SWISS RE GROUP U.S. EMPLOYEES' SAVINGS PLAN Contribution & Employer Match
SWISS RE GROUP U.S. EMPLOYEES' SAVINGS PLAN Contribution & Employer Match
SWISS RE AMERICA HOLDING CORPORATION provides the following retirement savings benefits to its employees:
SWISS RE GROUP U.S. EMPLOYEES' SAVINGS PLAN Average Participant Retirement Account Value
SWISS RE GROUP U.S. EMPLOYEES' SAVINGS PLAN Estimated Average Employee Contribution Amount
523,561.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,180.00 in SWISS RE GROUP U.S. EMPLOYEES' SAVINGS 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 SWISS RE GROUP U.S. EMPLOYEES' SAVINGS 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’.
SWISS RE GROUP U.S. EMPLOYEES' SAVINGS PLAN Total Employer Contribution and Match Rate
SWISS RE GROUP U.S. EMPLOYEES' SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $9,221.00 for 20 years would give you extra $590,159.00, assuming a 10% annual return.
SWISS RE GROUP U.S. EMPLOYEES' SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute from 1% to 50% of their base salary before-tax and/or Roth 401(k) and from 1% to 15% on an after-tax basis.
2. Employer Match/Contribution Conditions: The employer matches 100% of the employees’ contributions up to 6% of their base annual salary.
3. Vesting Schedule/Eligibility: The employer contributions fully vest after three years of service, while employee contributions are vested immediately.
4. Roth 401(k) contribution: Yes, the plan allows Roth 401(k) contributions.
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