BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT Contribution & Employer Match

BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT Contribution & Employer Match

BALBOA NEPHROLOGY MEDICAL GROUP INC provides the following retirement savings benefits to its employees:

BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT Average Participant Retirement Account Value

In 2021, the average participant retirement account value for BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT is $124,608.00

BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT Estimated Average Employee Contribution Amount

In 2021, the estimated average employee contribution amount per participant for BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT is $4,682.00. 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.
299,667.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,682.00 in BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT, 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 BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT

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’.

BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT Total Employer Contribution and Match Rate

In 2021, BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT allocates $2,559,386.00 to match its employees' contributions, providing an employer match rate of 209.43% of their contributions

BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT Estimated Average Employer Match

In 2021, the estimated average employer match for an employee in BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT is approximately $9,806.00
Investing in this additonal $9,806.00 for 20 years would give you extra $627,588.00, assuming a 10% annual return.

BALBOA NEPHROLOGY MEDICAL GROUP, INC. PROFIT Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 100% of their salary.

2. Employer Match/Contribution Conditions: The employer matches 50% of the first 6% of the employee's contribution.

3. Vesting Schedule/Eligibility: Employer contributions are vested after 3 years of service.

4. Roth 401(k) contribution: Yes, the plan allows Roth 401(k) contributions.

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