THE BLACKSTONE GROUP 401(K) SAVINGS PLAN Contribution & Employer Match
THE BLACKSTONE GROUP 401(K) SAVINGS PLAN Contribution & Employer Match
THE BLACKSTONE GROUP provides the following retirement savings benefits to its employees:
THE BLACKSTONE GROUP 401(K) SAVINGS PLAN Average Participant Retirement Account Value
THE BLACKSTONE GROUP 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount
889,487.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 13,898.00 in THE BLACKSTONE GROUP 401(K) 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 THE BLACKSTONE GROUP 401(K) 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’.
THE BLACKSTONE GROUP 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate
THE BLACKSTONE GROUP 401(K) SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $1,969.00 for 20 years would give you extra $126,053.00, assuming a 10% annual return.
THE BLACKSTONE GROUP 401(K) SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 75% of pre-tax and post-tax annual compensation, and can enter into a special salary reduction agreement to make deferral contributions up to 100% of any paid cash bonuses.
2. Employer Match/Contribution Conditions: The employer matches 50% of a participant’s deferral contribution, up to a maximum of $5,000 per calendar year. Participants must contribute to the Plan to be eligible to receive the employer match.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions plus actual earnings thereon. For employer matching contributions, those hired on or after January 1, 2017 have a vesting schedule based on years of service, while those hired before that date have a different schedule. Permanent disability or death results in full vesting.
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