APACHE CORPORATION 401(K) SAVINGS PLAN Contribution & Employer Match

APACHE CORPORATION 401(K) SAVINGS PLAN Contribution & Employer Match

APACHE CORPORATION provides the following retirement savings benefits to its employees:

APACHE CORPORATION 401(K) SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for APACHE CORPORATION 401(K) SAVINGS PLAN is $267,200.00

APACHE CORPORATION 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for APACHE CORPORATION 401(K) SAVINGS PLAN is $8,512.00. 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.
544,815.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,512.00 in APACHE CORPORATION 401(K) SAVINGS PLAN, 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 APACHE CORPORATION 401(K) 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’.

APACHE CORPORATION 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, APACHE CORPORATION 401(K) SAVINGS PLAN allocates $17,298,981.00 to match its employees' contributions, providing an employer match rate of 78.38% of their contributions

APACHE CORPORATION 401(K) SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in APACHE CORPORATION 401(K) SAVINGS PLAN is approximately $7,213.00
Investing in this additonal $7,213.00 for 20 years would give you extra $461,690.00, assuming a 10% annual return.

APACHE CORPORATION 401(K) SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 50 percent of their eligible compensation.

2. Employer Match/Contribution Conditions: The employer matches 100 percent of the first eight percent of employee contributions.

3. Vesting Schedule/Eligibility: Vesting in employer contributions is based on years of credited service: 20 percent after one year, continuing at 20 percent per year, becoming fully vested after five years. Full vesting occurs in the event of disability, death, or reaching age 65.

4. Allows Roth 401(k) contribution: Yes.

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