WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN Contribution & Employer Match

WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN Contribution & Employer Match

WOLVERINE TRADING, LLC provides the following retirement savings benefits to its employees:

WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN is $297,611.00

WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN is $17,701.00. 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.
1,132,871.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 17,701.00 in WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN, 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 WOLVERINE EMPLOYEE SAVINGS & RETIREMENT 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’.

WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2023, WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN allocates $3,472,532.00 to match its employees' contributions, providing an employer match rate of 41.39% of their contributions

WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN is approximately $6,986.00
Investing in this additonal $6,986.00 for 20 years would give you extra $447,167.00, assuming a 10% annual return.

WOLVERINE EMPLOYEE SAVINGS & RETIREMENT PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute the lesser of $20,500 or 92% of their pretax annual eligible compensation.

2. Employer Match/Contribution Conditions: The Company may make a matching contribution equal to a percentage of elective contributions, and additional profit sharing contributions may be contributed at the discretion of management.

3. Vesting Schedule/Eligibility: Participants are 100% vested immediately in their own contributions and investment earnings. They vest in the Company's matching and profit sharing contributions after four years of credited service.

4. Roth 401(k) Contribution: Participants are permitted to designate a portion or all elective contributions as Roth contributions.

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