What is NORTHERN POWER SYSTEMS INC. 401K PLAN's employer match?

In 2004, NORTHERN POWER SYSTEMS INC. 401K PLAN reported $62,490 in employer contributions. That is about 27.8% of reported employee contributions.

How many participants are in NORTHERN POWER SYSTEMS INC. 401K PLAN?

At the end of 2004, NORTHERN POWER SYSTEMS INC. 401K PLAN reported 133 plan participants.

When was NORTHERN POWER SYSTEMS INC. 401K PLAN established?

NORTHERN POWER SYSTEMS INC. 401K PLAN was established in 1997.

What are the investment options in NORTHERN POWER SYSTEMS INC. 401K PLAN?

MyPlanIQ tracks the investment lineup for NORTHERN POWER SYSTEMS INC. 401K PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/northern-power-systems-inc-401k-plan-2/

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NORTHERN POWER SYSTEMS INC. 401K PLAN

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NORTHERN POWER SYSTEMS INC. 401K PLAN Estimated Average Employee Contribution Amount

In 2004, the estimated average employee contribution amount per participant for NORTHERN POWER SYSTEMS INC. 401K PLAN is $3,380.00. 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.
216,371.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,380.00 in NORTHERN POWER SYSTEMS INC. 401K 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.

Keep researching NORTHERN POWER SYSTEMS INC. 401K PLAN

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