U.S. NEWS & WORLD REPORT, L.P. 401(K) PLAN Contribution & Employer Match
U.S. NEWS & WORLD REPORT, L.P. 401(K) PLAN Contribution & Employer Match
U.S. NEWS & WORLD REPORT, L.P. provides the following retirement savings benefits to its employees:
U.S. NEWS & WORLD REPORT, L.P. 401(K) PLAN Average Participant Retirement Account Value
U.S. NEWS & WORLD REPORT, L.P. 401(K) PLAN Estimated Average Employee Contribution Amount
465,660.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,275.00 in U.S. NEWS & WORLD REPORT, L.P. 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 U.S. NEWS & WORLD REPORT, L.P. 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’.
U.S. NEWS & WORLD REPORT, L.P. 401(K) PLAN Total Employer Contribution and Match Rate
U.S. NEWS & WORLD REPORT, L.P. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $1,576.00 for 20 years would give you extra $100,871.00, assuming a 10% annual return.
U.S. NEWS & WORLD REPORT, L.P. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 50% of their eligible compensation as Pre-tax or Roth contributions, and up to 60% as after-tax contributions.
2. Employer Match/Contribution Conditions: The employer matches 50% of a participant’s pretax and Roth contributions, provided that the maximum employer matching contribution does not exceed the first 6% of the participant’s eligible compensation.
3. Vesting Schedule/Eligibility: Participants become fully vested in the employer’s matching contributions after three years of service. To receive employer matching contributions, an employee must be age 21 and complete six months of service.
4. Roth 401(k) Contribution: Yes, the plan allows Roth 401(k) contributions.
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