TOPBUILD CORP. 401(K) PLAN Contribution & Employer Match
TOPBUILD CORP. 401(K) PLAN Contribution & Employer Match
TOPBUILD CORP. provides the following retirement savings benefits to its employees:
TOPBUILD CORP. 401(K) PLAN Average Participant Retirement Account Value
TOPBUILD CORP. 401(K) PLAN Estimated Average Employee Contribution Amount
185,458.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,897.00 in TOPBUILD CORP. 401(K) 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 TOPBUILD CORP. 401(K) 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’.
TOPBUILD CORP. 401(K) PLAN Total Employer Contribution and Match Rate
TOPBUILD CORP. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $996.00 for 20 years would give you extra $63,776.00, assuming a 10% annual return.
TOPBUILD CORP. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Up to 50 percent of their annual compensation.
2. Employer Match/Contribution Conditions: The Company may make matching contributions equal to a percentage of each participant’s eligible contribution; no additional contributions were made in 2022 or 2021.
3. Vesting Schedule/Eligibility: Company matching contributions are subject to a one-year cliff-vesting for employees who started on or after April 1, 2016; employees hired prior to that date are immediately vested. Participants are also immediately 100 percent vested upon death or disability while employed, or at retirement.
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