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TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN Contribution & Employer Match

TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN Contribution & Employer Match

TENET HEALTHCARE CORPORATION provides the following retirement savings benefits to its employees:

TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN is $54,685.00

TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN is $2,832.00. 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.
181,250.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,832.00 in TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS 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 TENET HEALTHCARE CORPORATION 401(K) RETIREMENT 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’.

TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN allocates $117,958,126.00 to match its employees' contributions, providing an employer match rate of 27.35% of their contributions

TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN is approximately $809.00
Investing in this additonal $809.00 for 20 years would give you extra $51,815.00, assuming a 10% annual return.

TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants may contribute up to 75% of their eligible compensation to the Plan as pretax and/or Roth after-tax savings. The total percentage of pretax, Roth after-tax, and after-tax savings cannot exceed 85% of a participant’s eligible compensation.

2. Employer Match/Contribution Conditions: The employer matches 50% of pretax and/or Roth after-tax contributions up to a maximum of 6% of eligible compensation. Participants must work a minimum of 1,000 eligible hours of service per calendar year to qualify for the match.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions and RMBA contributions. Vesting in the Employer’s contribution portion is based on years of service: 0% at less than one year, 20% at one year, 40% at two years, 60% at three years, 80% at four years, and 100% at five or more years.

4. Roth 401(k) Contribution: Yes, the plan allows Roth 401(k) contributions.

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