TRINET SELECT 401(K) PLAN Contribution & Employer Match
TRINET SELECT 401(K) PLAN Contribution & Employer Match
TRINET HR IV, LLC provides the following retirement savings benefits to its employees:
TRINET SELECT 401(K) PLAN Average Participant Retirement Account Value
TRINET SELECT 401(K) PLAN Estimated Average Employee Contribution Amount
524,957.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,202.00 in TRINET SELECT 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 TRINET SELECT 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’.
TRINET SELECT 401(K) PLAN Total Employer Contribution and Match Rate
TRINET SELECT 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $3,432.00 for 20 years would give you extra $219,680.00, assuming a 10% annual return.
TRINET SELECT 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Up to 100% of their pretax compensation.
2. Employer Match/Contribution Conditions: Employers may, at their discretion, make matching contributions as defined by the terms of their respective participation agreements.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their voluntary contributions plus actual earnings thereon. Vesting in the remainder of their accounts is based on the election of participating employers. Employees are eligible to participate in the Plan on the business day coinciding with or the next day following their first day of employment or the date on which they attain the age of 20.
4. Roth 401(k) contribution: Yes, eligible employees may elect Roth after-tax contributions.
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