ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND
Contribution & Savings
ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND Average Participant Retirement Account Value
In 2024, the average participant retirement account value for ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND is $398,982.00
ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND Estimated Average Employee Contribution Amount
In 2024, the estimated average employee contribution amount per participant for ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND is $12,123.00. 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.
775,918.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 12,123.00 in ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND, assuming a 10%* annual return.
775,918.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 12,123.00 in ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND, 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.
Keep researching ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND
Use the links below to move from this plan page into calculators, related retirement articles, and comparable plans in a similar industry or size band. That gives you a faster way to compare match design, fees, investments, and savings strategy in context.
Related Calculators
- 401(k) Employer Match Calculator
- Investment Fee Impact Calculator
- Mega Backdoor Roth 401(k) Calculator
Related Plans
- ELEVATOR CONSTRUCTORS LOCAL 1 ANNUITY & 401K FD UNION LOCAL NO. 1 ANNUITY & 401K FUND (4,156 participants, $1,394,679,668)
- SHEET METAL WORKERS LOCAL UNION NO. 28 ANNUITY FUND (4,097 participants, $571,462,434)
- SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUND (4,753 participants, $572,549,668)
- IUOE LOCAL 30 ANNUITY FUND (5,291 participants, $482,780,079)
- LAFARGE NORTH AMERICA INC. THRIFT SAVINGS PLAN (3,174 participants, $722,358,704)