4EARTH FARMS RETIREMENT PLAN Contribution & Employer Match
4EARTH FARMS RETIREMENT PLAN Contribution & Employer Match
4EARTH FARMS, LLC provides the following retirement savings benefits to its employees:
4EARTH FARMS RETIREMENT PLAN Average Participant Retirement Account Value
4EARTH FARMS RETIREMENT PLAN Estimated Average Employee Contribution Amount
102,129.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,595.00 in 4EARTH FARMS RETIREMENT 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.
Employer match in 4EARTH FARMS RETIREMENT PLAN
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’.
4EARTH FARMS RETIREMENT PLAN Total Employer Contribution and Match Rate
4EARTH FARMS RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $1,131.00 for 20 years would give you extra $72,405.00, assuming a 10% annual return.
4EARTH FARMS RETIREMENT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may elect to defer up to 75% of their pre-tax annual compensation.
2. Employer Match/Contribution Conditions: The Company makes safe harbor matching contributions equal to 100% of the first 5% of eligible compensation deferred to the Plan.
3. Vesting Schedule/Eligibility: Participants are 100% vested in the Company’s safe harbor matching contribution immediately and in the Company’s discretionary profit sharing contributions after three years of credited service. Eligibility requires reaching age 18 and completing two months of service, as well as 1,000 hours of service during the plan year and being employed as of the last day of the plan year.
4. Roth 401(k) Contributions: Participants may elect to make Roth contributions utilizing after-tax contributions.
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