TRIVIDIA HEALTH, INC. EMPLOYEE FLEXIBLE COMPENSATION PLAN Contribution & Employer Match
TRIVIDIA HEALTH, INC. EMPLOYEE FLEXIBLE COMPENSATION PLAN Contribution & Employer Match
TRIVIDIA HEALTH, INC. provides the following retirement savings benefits to its employees:
TRIVIDIA HEALTH, INC. EMPLOYEE FLEXIBLE COMPENSATION PLAN Average Participant Retirement Account Value
TRIVIDIA HEALTH, INC. EMPLOYEE FLEXIBLE COMPENSATION PLAN Estimated Average Employee Contribution Amount
303,146.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,736.00 in TRIVIDIA HEALTH, INC. EMPLOYEE FLEXIBLE COMPENSATION 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 TRIVIDIA HEALTH, INC. EMPLOYEE FLEXIBLE COMPENSATION 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’.
TRIVIDIA HEALTH, INC. EMPLOYEE FLEXIBLE COMPENSATION PLAN Total Employer Contribution and Match Rate
TRIVIDIA HEALTH, INC. EMPLOYEE FLEXIBLE COMPENSATION PLAN Estimated Average Employer Match
Investing in this additonal $1,584.00 for 20 years would give you extra $101,386.00, assuming a 10% annual return.
TRIVIDIA HEALTH, INC. EMPLOYEE FLEXIBLE COMPENSATION PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 100% of pre-tax or after-tax (Roth) annual eligible compensation, up to the maximum amount allowable established in the Internal Revenue Code (IRC), which was $20,500 in 2022.
2. Employer Match/Contribution Conditions: The employer may make matching contributions at a percentage to be determined annually. During the year ended December 31, 2022, the employer's matching contribution was 50% of the first 6% of the participant's eligible compensation.
3. Vesting Schedule/Eligibility: All participant contributions, including Rollovers, and Company matching contributions made to the Plan are fully vested at the time of contribution. Eligibility requires employees to complete at least three months of service.
4. Roth 401(k) Contribution: Allows Roth 401(k) contributions.
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