BREAN CAPITAL, LLC 401(K) PLAN Contribution & Employer Match
BREAN CAPITAL, LLC 401(K) PLAN Contribution & Employer Match
BREAN CAPITAL, LLC provides the following retirement savings benefits to its employees:
BREAN CAPITAL, LLC 401(K) PLAN Average Participant Retirement Account Value
BREAN CAPITAL, LLC 401(K) PLAN Estimated Average Employee Contribution Amount
716,093.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 11,188.00 in BREAN CAPITAL, LLC 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 BREAN CAPITAL, LLC 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’.
BREAN CAPITAL, LLC 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to one hundred percent (100%) of pre-tax annual compensation up to the IRS limitations.
2. Employer Match/Contribution Conditions: The Company may make matching contributions equal to a discretionary percentage, to be determined by the Company, of the participant’s elective deferrals. Additionally, discretionary profit-sharing contributions are made if the participant completed at least 1,000 hours of service during the year and is employed by the Company on the last day of the Plan year.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions plus actual earnings. Vesting in the Company’s discretionary matching and profit-sharing contributions is 20 percent after each year of service, becoming 100 percent vested after five years. Eligibility requires completion of three months of service and being age 21 or older.
4. The plan allows Roth 401(k) contributions.
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