ALASKA AIRLINES, INC. PILOTS INVESTMENT AND SAVINGS PLAN Contribution & Employer Match
ALASKA AIRLINES, INC. PILOTS INVESTMENT AND SAVINGS PLAN Contribution & Employer Match
ALASKA AIRLINES, INC. provides the following retirement savings benefits to its employees:
ALASKA AIRLINES, INC. PILOTS INVESTMENT AND SAVINGS PLAN Average Participant Retirement Account Value
ALASKA AIRLINES, INC. PILOTS INVESTMENT AND SAVINGS PLAN Estimated Average Employee Contribution Amount
1,170,032.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 18,281.00 in ALASKA AIRLINES, INC. PILOTS INVESTMENT AND SAVINGS 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 ALASKA AIRLINES, INC. PILOTS INVESTMENT AND SAVINGS 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’.
ALASKA AIRLINES, INC. PILOTS INVESTMENT AND SAVINGS PLAN Total Employer Contribution and Match Rate
ALASKA AIRLINES, INC. PILOTS INVESTMENT AND SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $28,592.00 for 20 years would give you extra $1,829,910.00, assuming a 10% annual return.
ALASKA AIRLINES, INC. PILOTS INVESTMENT AND SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Up to 100% of their eligible earnings.
2. Employer Match/Contribution Conditions: Employer contributions are 16% of eligible earnings for participants hired or transferred after December 31, 2009, with other contribution options for participants who commenced before January 1, 2010, ranging from 3% to 14.5% based on options chosen.
3. Vesting Schedule/Eligibility: Participants immediately vest in all contributions. Pilots are eligible to enroll on the first day of the month following 30 days of service.
4. Roth 401(k) contribution: Allowed.
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