BOISE CASCADE COMPANY SAVINGS PLAN Contribution & Employer Match

BOISE CASCADE COMPANY SAVINGS PLAN Contribution & Employer Match

BOISE CASCADE COMPANY provides the following retirement savings benefits to its employees:

BOISE CASCADE COMPANY SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for BOISE CASCADE COMPANY SAVINGS PLAN is $145,189.00

BOISE CASCADE COMPANY SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for BOISE CASCADE COMPANY SAVINGS PLAN is $7,070.00. 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.
452,537.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,070.00 in BOISE CASCADE COMPANY 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 BOISE CASCADE COMPANY 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’.

BOISE CASCADE COMPANY SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, BOISE CASCADE COMPANY SAVINGS PLAN allocates $25,708,410.00 to match its employees' contributions, providing an employer match rate of 83.62% of their contributions

BOISE CASCADE COMPANY SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in BOISE CASCADE COMPANY SAVINGS PLAN is approximately $5,694.00
Investing in this additonal $5,694.00 for 20 years would give you extra $364,416.00, assuming a 10% annual return.

BOISE CASCADE COMPANY SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 50% of annual compensation on a pretax basis, a Roth (after-tax) basis, or a combination of the two.

2. Employer Match/Contribution Conditions: The employer contributes an amount equal to 4% of each salaried participant's eligible compensation as a nondiscretionary company contribution. Additionally, each year, the Company may choose to make an additional discretionary non-matching contribution as a percentage of eligible compensation, determined by the participant's years of service.

3. Vesting Schedule/Eligibility: Company contributions vest after two years of credited service. All participants are immediately vested in their contributions and earnings. A participant is 100% vested upon reaching their 65th birthday or in cases of death, disability while employed, or termination due to sale or permanent closure of the participant's location or division.

4. Roth 401(k) Contribution: Yes, the plan allows Roth (after-tax) contributions.

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