APOGEE ENTERPRISES, INC. 401(K) RETIREMENT PLAN Contribution & Employer Match
APOGEE ENTERPRISES, INC. 401(K) RETIREMENT PLAN Contribution & Employer Match
APOGEE ENTERPRISES, INC. provides the following retirement savings benefits to its employees:
APOGEE ENTERPRISES, INC. 401(K) RETIREMENT PLAN Average Participant Retirement Account Value
APOGEE ENTERPRISES, INC. 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount
225,509.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,523.00 in APOGEE ENTERPRISES, INC. 401(K) 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 APOGEE ENTERPRISES, INC. 401(K) 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’.
APOGEE ENTERPRISES, INC. 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate
APOGEE ENTERPRISES, INC. 401(K) RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $1,748.00 for 20 years would give you extra $111,912.00, assuming a 10% annual return.
APOGEE ENTERPRISES, INC. 401(K) RETIREMENT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may elect to have 1% to 60% of their compensation withheld and contributed to their basic account in the Plan.
2. Employer Match/Contribution Conditions: The Company contributes an amount equal to 100% of the first 1% deferred and 50% on the next 5% deferred for eligible nonunion and union participants. Contributions made by participants who are union members are not matched.
3. Vesting Schedule/Eligibility: Participants’ pretax contributions are 100% vested at all times. Participants become 100% vested in their Company contributions after completing two years of qualified service with the Company, or in the event of death, disability, or retirement while in employment service.
4. The Plan allows an in-plan Roth conversion transfer feature.
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