A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES Contribution & Employer Match

A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES Contribution & Employer Match

A-MARK PRECIOUS METALS, INC. AND provides the following retirement savings benefits to its employees:

A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES Average Participant Retirement Account Value

In 2023, the average participant retirement account value for A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES is $40,913.00

A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES is $7,076.00. 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.
452,924.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,076.00 in A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES, 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 A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES

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’.

A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES Total Employer Contribution and Match Rate

In 2023, A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES allocates $1,202,255.00 to match its employees' contributions, providing an employer match rate of 50.86% of their contributions

A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES is approximately $2,478.00
Investing in this additonal $2,478.00 for 20 years would give you extra $158,648.00, assuming a 10% annual return.

A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 90% of their annual compensation, subject to IRS limitations, not to exceed $20,500 for the year ended December 31, 2022. Participants aged 50 or older may make catch-up contributions of $6,500.

2. Employer Match/Contribution Conditions: The employer matches 100% of a participant’s contributions up to 3% of the participant’s compensation, and 50% of contributions that exceed 3% but do not exceed 6% of the participant’s compensation. Participants must complete one month of service during the Plan year.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their voluntary contributions and employer matching contributions. Eligibility requires employees to be at least 21 years of age and have completed one month of service.

4. Roth 401(k) Contribution: Participants are permitted to designate a portion or all of the deferral contributions as Roth deferral contributions.

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