401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. Contribution & Employer Match

401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. Contribution & Employer Match

CHALLENGER PROCESS SYSTEMS INC provides the following retirement savings benefits to its employees:

401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. Average Participant Retirement Account Value

In 2001, the average participant retirement account value for 401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. is $2,927.00

401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. Estimated Average Employee Contribution Amount

In 2001, the estimated average employee contribution amount per participant for 401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. is $1,102.00. 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.
70,539.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,102.00 in 401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC., 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 401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC.

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’.

401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. Total Employer Contribution and Match Rate

In 2001, 401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. allocates $3,604.00 to match its employees' contributions, providing an employer match rate of 5.32% of their contributions

401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. Estimated Average Employer Match

In 2001, the estimated average employer match for an employee in 401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. is approximately $29.00
Investing in this additonal $29.00 for 20 years would give you extra $1,875.00, assuming a 10% annual return.

401 K PLAN FOR SUBSIDIARIES OF HARBISON-FISCHER, INC. Contribution & Match Policy

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