APTEVO THERAPEUTICS DEFINED COMPENSATION PLAN Contribution & Employer Match
APTEVO THERAPEUTICS DEFINED COMPENSATION PLAN Contribution & Employer Match
APTEVO THERAPEUTIC, INC. provides the following retirement savings benefits to its employees:
APTEVO THERAPEUTICS DEFINED COMPENSATION PLAN Average Participant Retirement Account Value
APTEVO THERAPEUTICS DEFINED COMPENSATION PLAN Estimated Average Employee Contribution Amount
385,434.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,022.00 in APTEVO THERAPEUTICS DEFINED COMPENSATION 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 APTEVO THERAPEUTICS DEFINED COMPENSATION 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’.
APTEVO THERAPEUTICS DEFINED COMPENSATION PLAN Total Employer Contribution and Match Rate
APTEVO THERAPEUTICS DEFINED COMPENSATION PLAN Estimated Average Employer Match
Investing in this additonal $1,837.00 for 20 years would give you extra $117,568.00, assuming a 10% annual return.
APTEVO THERAPEUTICS DEFINED COMPENSATION PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute a percentage of their salary up to a maximum of 6% of eligible compensation through automatic enrollment, with elective deferrals allowed in either Traditional (pre-tax) or Roth (after-tax) forms.
2. Employer Match/Contribution Conditions: The employer matches 50% of each dollar of elective deferrals made by the participant, up to a maximum of 6% of eligible compensation.
3. Vesting Schedule/Eligibility: Participants are always fully vested in their elective deferral, employer matching contribution, and rollover accounts. For employer discretionary profit-sharing contributions, participants become 33% vested after one year of service, increasing to 66% after two years, and 100% after three years of service. A participant earns a year of service for each year they work 1,000 hours during a calendar year.
4. Roth 401(k) Contribution: The plan allows Roth 401(k) contributions.
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