SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN Contribution & Employer Match

SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN Contribution & Employer Match

SICPA SECURINK CORPORATION provides the following retirement savings benefits to its employees:

SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN is $212,392.00

SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN is $7,213.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
461,634.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,213.00 in SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-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 SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT 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’.

SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2023, SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN allocates $857,265.00 to match its employees' contributions, providing an employer match rate of 46.16% of their contributions

SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN is approximately $3,272.00
Investing in this additonal $3,272.00 for 20 years would give you extra $209,408.00, assuming a 10% annual return.

SICPA SECURINK CORPORATION PRE-TAX SAVINGS AND RETIREMENT PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants may contribute any whole percentage of their pre-tax earnings, subject to limitations established annually by the IRS.

2. Employer Match/Contribution Conditions: The Company will make matching contributions equal to 100% of each participant’s salary deferral up to 4% of the participant’s compensation and may make discretionary, profit-sharing contributions dependent upon the Company’s earnings.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions and the Company matching contribution. They become eligible for discretionary profit-sharing contributions after completing one year of service, and are 100% vested in those contributions after 6 years of credited service.

4. Roth 401(k) Contribution: The plan allows participants to contribute Roth elective deferrals, which are post-tax deferrals.

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