WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP Contribution & Employer Match

WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP Contribution & Employer Match

WALTON, LANTAFF, SCHROEDER & CARSON LLP provides the following retirement savings benefits to its employees:

WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP Average Participant Retirement Account Value

In 2022, the average participant retirement account value for WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP is $146,552.00

WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP is $1,865.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
119,398.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,865.00 in WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-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 WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP

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’.

WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP Total Employer Contribution and Match Rate

In 2022, WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP allocates $94,760.00 to match its employees' contributions, providing an employer match rate of 47.92% of their contributions

WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP Estimated Average Employer Match

In 2022, the estimated average employer match for an employee in WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP is approximately $911.00
Investing in this additonal $911.00 for 20 years would give you extra $58,313.00, assuming a 10% annual return.

WALTON, LANTAFF, SCHROEDER & CARSON 401(K) PSP Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 100% of their pre-tax annual compensation, subject to IRS limitations.

2. Employer Match/Contribution Conditions: The employer matches 100% of participants’ elective contributions up to 3% of their annual compensation, plus 50% of the contributions between 3% and 5%.

3. Vesting Schedule/Eligibility: Participants are fully vested in their voluntary and rollover contributions and employer safe harbor contributions. Vesting in discretionary contributions is based on years of continuous service, with a schedule that ranges from 20% after 2 years to 100% after 6 years. Eligibility requires completion of six months of eligible service.

4. Roth 401(k) Contribution: Not indicated.

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