THE PEW CHARITABLE TRUSTS SAVINGS PLAN Contribution & Employer Match
THE PEW CHARITABLE TRUSTS SAVINGS PLAN Contribution & Employer Match
THE PEW CHARITABLE TRUSTS provides the following retirement savings benefits to its employees:
THE PEW CHARITABLE TRUSTS SAVINGS PLAN Average Participant Retirement Account Value
THE PEW CHARITABLE TRUSTS SAVINGS PLAN Estimated Average Employee Contribution Amount
408,874.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,388.00 in THE PEW CHARITABLE TRUSTS 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 PEW CHARITABLE TRUSTS 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 PEW CHARITABLE TRUSTS SAVINGS PLAN Total Employer Contribution and Match Rate
THE PEW CHARITABLE TRUSTS SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $8,134.00 for 20 years would give you extra $520,628.00, assuming a 10% annual return.
THE PEW CHARITABLE TRUSTS SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 6% of their salary to the plan.
2. Employer Match/Contribution Conditions: The employer matches 100% of the pretax contributions authorized by each participant up to 6% of the participant’s base compensation.
3. Vesting Schedule/Eligibility: Employer contributions are fully vested after an employee is credited with 1,000 hours within one Plan year.
4. Roth 401(k) Contribution: The information does not specify the availability of Roth 401(k) contributions.
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