VONTIER RETIREMENT SAVINGS PLAN Contribution & Employer Match
VONTIER RETIREMENT SAVINGS PLAN Contribution & Employer Match
VONTIER BUSINESS SERVICES LLC provides the following retirement savings benefits to its employees:
VONTIER RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value
VONTIER RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount
578,643.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 9,041.00 in VONTIER RETIREMENT SAVINGS 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 VONTIER RETIREMENT SAVINGS 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’.
VONTIER RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate
VONTIER RETIREMENT SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $5,625.00 for 20 years would give you extra $360,002.00, assuming a 10% annual return.
VONTIER RETIREMENT SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 75% of their compensation.
2. Employer Match/Contribution Conditions: The employer matches 100% of the first 3% of compensation contributed by the participant, plus 50% of the next 2% of eligible compensation contributed.
3. Vesting Schedule/Eligibility: Participants become fully vested in employer contributions upon completion of three years of service.
4. Allows Roth 401(k) Contribution: Yes.
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