SUPERLATIVE TECHNOLOGIES, INC. 401(K) PLAN Contribution & Employer Match
SUPERLATIVE TECHNOLOGIES, INC. 401(K) PLAN Contribution & Employer Match
SUPERLATIVE TECHNOLOGIES, INC. provides the following retirement savings benefits to its employees:
SUPERLATIVE TECHNOLOGIES, INC. 401(K) PLAN Average Participant Retirement Account Value
SUPERLATIVE TECHNOLOGIES, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
265,075.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,141.00 in SUPERLATIVE TECHNOLOGIES, INC. 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 SUPERLATIVE 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’.
SUPERLATIVE TECHNOLOGIES, INC. 401(K) PLAN Total Employer Contribution and Match Rate
SUPERLATIVE TECHNOLOGIES, INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $2,238.00 for 20 years would give you extra $143,236.00, assuming a 10% annual return.
SUPERLATIVE TECHNOLOGIES, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to the maximum allowed under the IRS published guidelines for elective deferral contributions to 401(k) Plans.
2. Employer Match/Contribution Conditions: The Company contributes one hundred percent (100%) of the first three percent (3%) of eligible compensation that a participant contributes to the Plan and fifty percent (50%) of the next two percent (2%) of eligible compensation that a participant contributes to the Plan.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions plus actual earnings thereon, and they are also immediately vested in the matching Company contributions. A participant is 100% vested in the Company’s discretionary contribution portion of their account after four (4) years of credited service.
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