VAISALA INC. 401(K) PLAN Contribution & Employer Match
VAISALA INC. 401(K) PLAN Contribution & Employer Match
VAISALA INC. provides the following retirement savings benefits to its employees:
VAISALA INC. 401(K) PLAN Average Participant Retirement Account Value
VAISALA INC. 401(K) PLAN Estimated Average Employee Contribution Amount
433,374.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,771.00 in VAISALA INC. 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 VAISALA INC. 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’.
VAISALA INC. 401(K) PLAN Total Employer Contribution and Match Rate
VAISALA INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $2,001.00 for 20 years would give you extra $128,069.00, assuming a 10% annual return.
VAISALA INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to 60% of annual eligible compensation.
2. Employer Match/Contribution Conditions: The employer matches 50% of deferrals up to 6% of annual eligible compensation.
3. Vesting Schedule/Eligibility: All participants are immediately vested in their contributions plus actual earnings. For the Company’s discretionary matching contributions, vesting is based on continuous years of service.
4. Roth 401(k) Contribution: Yes, the plan allows Roth deferrals.
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