TEXAS STATE AQUARIUM 403(B) PLAN Contribution & Employer Match
TEXAS STATE AQUARIUM 403(B) PLAN Contribution & Employer Match
TEXAS STATE AQUARIUM provides the following retirement savings benefits to its employees:
TEXAS STATE AQUARIUM 403(B) PLAN Average Participant Retirement Account Value
TEXAS STATE AQUARIUM 403(B) PLAN Estimated Average Employee Contribution Amount
86,854.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,357.00 in TEXAS STATE AQUARIUM 403(B) 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 TEXAS STATE AQUARIUM 403(B) 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’.
TEXAS STATE AQUARIUM 403(B) PLAN Total Employer Contribution and Match Rate
TEXAS STATE AQUARIUM 403(B) PLAN Estimated Average Employer Match
Investing in this additonal $957.00 for 20 years would give you extra $61,289.00, assuming a 10% annual return.
TEXAS STATE AQUARIUM 403(B) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may make voluntary salary reductions (participant contributions) up to the maximum amount allowed by the IRS. For 2022, the deferral limit was $20,500.
2. Employer Match/Contribution Conditions: The Organization may make discretionary matching contributions of 100% of employee salary deferrals that do not exceed 5% of annual compensation.
3. Vesting Schedule/Eligibility: Participants are 100% vested in their contributions upon entry into the Plan. Vesting for employer contributions is 100% after 1 year of service.
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