TWO LABS MARKETING LLC 401(K) AND PROFIT SHARING PLAN Contribution & Employer Match
TWO LABS MARKETING LLC 401(K) AND PROFIT SHARING PLAN Contribution & Employer Match
TWO LABS MARKETING LLC provides the following retirement savings benefits to its employees:
TWO LABS MARKETING LLC 401(K) AND PROFIT SHARING PLAN Average Participant Retirement Account Value
TWO LABS MARKETING LLC 401(K) AND PROFIT SHARING PLAN Estimated Average Employee Contribution Amount
556,306.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,692.00 in TWO LABS MARKETING LLC 401(K) AND PROFIT SHARING 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 TWO LABS MARKETING LLC 401(K) AND PROFIT SHARING 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’.
TWO LABS MARKETING LLC 401(K) AND PROFIT SHARING PLAN Total Employer Contribution and Match Rate
TWO LABS MARKETING LLC 401(K) AND PROFIT SHARING PLAN Estimated Average Employer Match
Investing in this additonal $3,480.00 for 20 years would give you extra $222,743.00, assuming a 10% annual return.
TWO LABS MARKETING LLC 401(K) AND PROFIT SHARING PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 100% of their annual compensation.
2. Employer Match/Contribution Conditions: The employer matches 100% of the first 3% and 50% of the next 2% of employee contributions.
3. Vesting Schedule/Eligibility: Employees are eligible for employer matching contributions after completing six months of service with at least 500 hours worked. The vesting schedule for employer contributions is 100% after four years of credited service.
4. Roth 401(k) Contributions: The plan allows after-tax Roth contributions.
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