ARDAGH NORTH AMERICA 401(K) PLAN Contribution & Employer Match
ARDAGH NORTH AMERICA 401(K) PLAN Contribution & Employer Match
ARDAGH GLASS INC. provides the following retirement savings benefits to its employees:
ARDAGH NORTH AMERICA 401(K) PLAN Average Participant Retirement Account Value
ARDAGH NORTH AMERICA 401(K) PLAN Estimated Average Employee Contribution Amount
501,338.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,833.00 in ARDAGH NORTH AMERICA 401(K) 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 ARDAGH NORTH AMERICA 401(K) 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’.
ARDAGH NORTH AMERICA 401(K) PLAN Total Employer Contribution and Match Rate
ARDAGH NORTH AMERICA 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $4,614.00 for 20 years would give you extra $295,323.00, assuming a 10% annual return.
ARDAGH NORTH AMERICA 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 50 percent of their salary to the plan.
2. Employer Match/Contribution Conditions: Employer contributions and matching differ by the Participating Companies and are defined in the plan document. Eligible employees of Ardagh Metal Beverage Inc. and part of Ardagh Glass Inc. are immediately fully vested in employer contributions, while others vest based on years of service.
3. Vesting Schedule/Eligibility: Employees are immediately 100 percent vested in their own contributions. For employer matching contributions, employees vest after three years of service. Vesting for nonmatching contributions is based on years of service, with full vesting after six years.
4. Roth 401(k) Contribution: The plan allows for after-tax contributions.
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