JACKSON-MITCHELL, INC. 401(K) PLAN
Contribution & Savings
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 JACKSON-MITCHELL, INC. 401(K) PLAN
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
- THE YOFARM COMPANY 401(K) PLAN (149 participants)
- NESTLE PUERTO RICO, INC. EMPLOYEE SAVINGS PLAN (148 participants, $2,492,588)
- AVONMORE CHEESE, INC. PROFIT SHARING AND INCENTIVE SAVINGS PLAN (148 participants, $2,689,945)
- JOHANNA FOODS, INC. LACTO DIVISION (LOCAL 152 EMPLOYEES) SVGS AND INV PLAN (150 participants, $5,055,478)
- SAPUTO CHEESE USA, INC. HOURLY BARGAINING SAVINGS & INVESTMENT PLAN WATERFORD FOOD PRODUCTS, INC. (151 participants, $3,596,736)