SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN Contribution & Employer Match

SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN Contribution & Employer Match

SUBSYSTEM TECHNOLOGIES, INC. provides the following retirement savings benefits to its employees:

SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN is $48,895.00

SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN is $5,377.00. 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.
344,158.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,377.00 in SUBSYSTEM TECHNOLOGIES, INC. 401(K) 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 SUBSYSTEM TECHNOLOGIES, INC. 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’.

SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN allocates $990,003.00 to match its employees' contributions, providing an employer match rate of 57.09% of their contributions

SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN is approximately $2,682.00
Investing in this additonal $2,682.00 for 20 years would give you extra $171,707.00, assuming a 10% annual return.

SUBSYSTEM TECHNOLOGIES, INC. 401(K) PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 100% of their annual compensation, subject to certain Internal Revenue Code limitations.

2. Employer Match/Contribution Conditions: The employer matches 50% up to 5% of the participant’s elective deferrals.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions. For employer contributions, all participants are immediately 100% vested. Employees are eligible to participate in the Plan upon completion of 60 days of service.

4. Roth 401(k) Contribution: The Plan allows Roth 401(k) (after-tax) contributions.

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