SHELTON HOLDINGS, LLC 401-K PLAN Contribution & Employer Match
SHELTON HOLDINGS, LLC 401-K PLAN Contribution & Employer Match
SHELTON HOLDINGS, LLC provides the following retirement savings benefits to its employees:
SHELTON HOLDINGS, LLC 401-K PLAN Average Participant Retirement Account Value
SHELTON HOLDINGS, LLC 401-K PLAN Estimated Average Employee Contribution Amount
217,192.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,393.00 in SHELTON HOLDINGS, LLC 401-K PLAN, assuming a 10%* annual return.
2023 & 2024 401(k) contribution limits by IRS
| Pretax and roth employee contributions | Employee and employer contributions combined | Catch-up contributions (in addition to the employee and employer combined limit, age 50 and over) | |
|---|---|---|---|
| 401(k) contribution limit for 2023 | $22,500 | $66,000 | $7,500 |
| 401(k) contribution limit for 2024 | $23,000 | $69,000 | $7,500 |
$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.
$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!
Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.
Employer match in SHELTON HOLDINGS, LLC 401-K PLAN
An employer match is deemed as ‘free’ money wherein your employer contributes additional funds to your allocated retirement savings plan. The matching amount can frequently be several percentage points of your compensation. Don’t avoid this free salary ‘raise’.
SHELTON HOLDINGS, LLC 401-K PLAN Total Employer Contribution and Match Rate
SHELTON HOLDINGS, LLC 401-K PLAN Estimated Average Employer Match
Investing in this additonal $1,779.00 for 20 years would give you extra $113,885.00, assuming a 10% annual return.
SHELTON HOLDINGS, LLC 401-K PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to the lesser of 75% of their eligible compensation or $20,500, and $19,500 for 2022 and 2021, adjusted annually for the cost of living, plus an additional $6,500 for employees aged 50 and over.
2. Employer Match/Contribution Conditions: The Company matches 100% of each participant’s elective deferral, up to 3% of compensation, and 50% of each participant’s elective salary deferral over 3% of compensation, up to 5% of compensation.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their salary deferral contributions, rollover contributions, Company matching contributions, and earnings thereon. Company discretionary profit-sharing contributions are 20% vested after one year of service and vest an additional 20% each year thereafter until 100% vested after five years of continuous service. Eligibility requires employees to be age 21 and over with at least three months of service.
4. Roth 401(k) Contribution: Yes, it allows Roth 401(k) contributions.
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