BRIDGESTONE AMERICAS, INC. INCENTIVE SAVINGS PLAN Contribution & Employer Match
BRIDGESTONE AMERICAS, INC. INCENTIVE SAVINGS PLAN Contribution & Employer Match
BRIDGESTONE AMERICAS, INC. provides the following retirement savings benefits to its employees:
BRIDGESTONE AMERICAS, INC. INCENTIVE SAVINGS PLAN Average Participant Retirement Account Value
BRIDGESTONE AMERICAS, INC. INCENTIVE SAVINGS PLAN Estimated Average Employee Contribution Amount
100,724.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,573.00 in BRIDGESTONE AMERICAS, INC. INCENTIVE SAVINGS 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 BRIDGESTONE AMERICAS, INC. INCENTIVE 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’.
BRIDGESTONE AMERICAS, INC. INCENTIVE SAVINGS PLAN Total Employer Contribution and Match Rate
BRIDGESTONE AMERICAS, INC. INCENTIVE SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $586.00 for 20 years would give you extra $37,530.00, assuming a 10% annual return.
BRIDGESTONE AMERICAS, INC. INCENTIVE SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute between 1% and 50% of their eligible compensation.
2. Employer Match/Contribution Conditions: The employer matches 50% of each participant’s contribution, not to exceed 3% of each participant’s eligible earnings.
3. Vesting Schedule/Eligibility: Participants hired on or after January 1, 2019 are vested in matching contributions after three years of service. Participants hired or rehired prior to January 1, 2019 are vested in matching contributions in increments of 20% for each year beginning with the employee’s second year of service, with 100% vesting after six years of service.
4. Roth 401(k) contribution: The plan allows Roth 401(k) contributions.
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