What is TERMAX, LLC PROFIT SHARING/401(K) PLAN's employer match?

In 2020, TERMAX, LLC PROFIT SHARING/401(K) PLAN reported $462,125 in employer contributions. That is about 80.6% of reported employee contributions.

How many participants are in TERMAX, LLC PROFIT SHARING/401(K) PLAN?

At the end of 2020, TERMAX, LLC PROFIT SHARING/401(K) PLAN reported 379 plan participants.

When was TERMAX, LLC PROFIT SHARING/401(K) PLAN established?

TERMAX, LLC PROFIT SHARING/401(K) PLAN was established in 1998.

What are the investment options in TERMAX, LLC PROFIT SHARING/401(K) PLAN?

MyPlanIQ tracks the investment lineup for TERMAX, LLC PROFIT SHARING/401(K) PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/termax-llc-profit-sharing401k-plan/

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TERMAX, LLC PROFIT SHARING/401(K) PLAN

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Contribution & Savings

TERMAX, LLC PROFIT SHARING/401(K) PLAN Estimated Average Employee Contribution Amount

In 2020, the estimated average employee contribution amount per participant for TERMAX, LLC PROFIT SHARING/401(K) PLAN is $3,024.00. 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.
193,536.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,024.00 in TERMAX, LLC PROFIT SHARING/401(K) 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.

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