THE INDIVIDUAL RETIREMENT PLAN OF RIVERSTONE RESOURCES LLC Contribution & Employer Match
THE INDIVIDUAL RETIREMENT PLAN OF RIVERSTONE RESOURCES LLC Contribution & Employer Match
RIVERSTONE RESOURCES LLC provides the following retirement savings benefits to its employees:
THE INDIVIDUAL RETIREMENT PLAN OF RIVERSTONE RESOURCES LLC Average Participant Retirement Account Value
THE INDIVIDUAL RETIREMENT PLAN OF RIVERSTONE RESOURCES LLC Estimated Average Employee Contribution Amount
388,588.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,071.00 in THE INDIVIDUAL RETIREMENT PLAN OF RIVERSTONE RESOURCES LLC, 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 INDIVIDUAL RETIREMENT PLAN OF RIVERSTONE RESOURCES LLC
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 INDIVIDUAL RETIREMENT PLAN OF RIVERSTONE RESOURCES LLC Total Employer Contribution and Match Rate
THE INDIVIDUAL RETIREMENT PLAN OF RIVERSTONE RESOURCES LLC Estimated Average Employer Match
Investing in this additonal $4,009.00 for 20 years would give you extra $256,582.00, assuming a 10% annual return.
THE INDIVIDUAL RETIREMENT PLAN OF RIVERSTONE RESOURCES LLC Contribution & Match Policy
1. Employee Contribution Rates: Participants may elect to contribute between 1% through 50% of their eligible base salary.
2. Employer Match/Contribution Conditions: Employer regular matching contributions shall be made in an amount equal to 66-2/3% of salary deferral contributions for each pay period up to a total of 6% of compensation for the pay period. The maximum employer regular matching contribution is 4% of compensation for a pay period. Additionally, RiverStone Resources contributes an additional 3% of base salary for all eligible employees annually.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their voluntary contributions. Employees who were participants in the Talegen Plan are 100% vested in employer contributions made on their behalf. For employees who became participants after October 15, 1997, they become 25% vested after 1 year of service, 50% vested after 2 years of service, and 100% vested after 3 years of service. Participants are also 100% vested if they attain age 65, or if they die or become totally disabled while employed.
4. Roth 401(k) Contribution: Participants may also elect to contribute, on a Roth deferral basis, between 1% through 50% of their eligible base salary for the contribution period.
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