THE COMPANY RETIREMENT ACCUMULATION PLAN Contribution & Employer Match
THE COMPANY RETIREMENT ACCUMULATION PLAN Contribution & Employer Match
FOUR WINDS INVESTMENTS, INC. provides the following retirement savings benefits to its employees:
THE COMPANY RETIREMENT ACCUMULATION PLAN Average Participant Retirement Account Value
THE COMPANY RETIREMENT ACCUMULATION PLAN Estimated Average Employee Contribution Amount
144,233.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,253.00 in THE COMPANY RETIREMENT ACCUMULATION 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 COMPANY RETIREMENT ACCUMULATION 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 COMPANY RETIREMENT ACCUMULATION PLAN Total Employer Contribution and Match Rate
THE COMPANY RETIREMENT ACCUMULATION PLAN Estimated Average Employer Match
Investing in this additonal $321.00 for 20 years would give you extra $20,565.00, assuming a 10% annual return.
THE COMPANY RETIREMENT ACCUMULATION PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to the maximum amount permitted by the Plan, subject to certain limitations of the Internal Revenue Code.
2. Employer Match/Contribution Conditions: The Sponsor currently contributes 25% of the first 6% of base compensation that a participant elects to contribute, and the Sponsor may make additional contributions at the discretion of the Board of the Directors.
3. Vesting Schedule/Eligibility: Participants vest immediately in their contributions and actual earnings thereon. Vesting in the Sponsor's contribution is based on year of continuous service and has a graded vesting increasing 20% each year following 2 full years of service, reaching 100% vesting after 6 years of service.
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