CARESTREAM DENTAL RETIREMENT SAVINGS PLAN Contribution & Employer Match
CARESTREAM DENTAL RETIREMENT SAVINGS PLAN Contribution & Employer Match
CARESTREAM DENTAL LLC provides the following retirement savings benefits to its employees:
CARESTREAM DENTAL RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value
CARESTREAM DENTAL RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount
276,016.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,312.00 in CARESTREAM DENTAL RETIREMENT 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 CARESTREAM DENTAL RETIREMENT 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’.
CARESTREAM DENTAL RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate
CARESTREAM DENTAL RETIREMENT SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $2,189.00 for 20 years would give you extra $140,135.00, assuming a 10% annual return.
CARESTREAM DENTAL RETIREMENT SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 75% of earnings or the maximum annual limitations as provided by the Internal Revenue Code.
2. Employer Match/Contribution Conditions: The employer will match 100% of the participant’s contribution up to 4% of compensation that a participant contributes to the Plan.
3. Vesting Schedule/Eligibility: Participants are immediately 100% vested in their elective deferral contributions and Company matching contributions. All employees, other than those specifically excluded, are eligible to participate in the plan upon hire.
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