AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA Contribution & Employer Match

AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA Contribution & Employer Match

AFL TELECOMMUNICATIONS, LLC provides the following retirement savings benefits to its employees:

AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA Average Participant Retirement Account Value

In 2021, the average participant retirement account value for AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA is $65,838.00

AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA Estimated Average Employee Contribution Amount

In 2021, the estimated average employee contribution amount per participant for AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA is $3,301.00. 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.
211,299.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,301.00 in AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA, 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 AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA

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’.

AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA Total Employer Contribution and Match Rate

In 2021, AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA allocates $3,631,477.00 to match its employees' contributions, providing an employer match rate of 45.62% of their contributions

AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA Estimated Average Employer Match

In 2021, the estimated average employer match for an employee in AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA is approximately $1,506.00
Investing in this additonal $1,506.00 for 20 years would give you extra $96,397.00, assuming a 10% annual return.

AFL TELECOMMUNICATIONS, LLC SVGS AND INCENTIVE PLA Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 75% of their total pre-tax compensation to the plan.

2. Employer Match/Contribution Conditions: The employer matches 100% of elective deferrals that do not exceed 4% of employee compensation.

3. Vesting Schedule/Eligibility: Employer contributions are 100% vested immediately for the safe harbor matching contributions. Profit sharing contributions are subject to a vesting schedule of three years of service.

4. Roth 401(k) Contribution: The plan permits eligible employees to make Roth (after-tax) deferrals.

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