CHILDRENS HEALTHCARE OF ATLANTA INC SHARE PLAN Contribution & Employer Match
CHILDRENS HEALTHCARE OF ATLANTA INC SHARE PLAN Contribution & Employer Match
CHILDRENS HEALTHCARE OF ATLANTA INC provides the following retirement savings benefits to its employees:
CHILDRENS HEALTHCARE OF ATLANTA INC SHARE PLAN Average Participant Retirement Account Value
CHILDRENS HEALTHCARE OF ATLANTA INC SHARE PLAN Estimated Average Employee Contribution Amount
260,414.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,068.00 in CHILDRENS HEALTHCARE OF ATLANTA INC SHARE 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 CHILDRENS HEALTHCARE OF ATLANTA INC SHARE 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’.
CHILDRENS HEALTHCARE OF ATLANTA INC SHARE PLAN Total Employer Contribution and Match Rate
CHILDRENS HEALTHCARE OF ATLANTA INC SHARE PLAN Estimated Average Employer Match
Investing in this additonal $1,477.00 for 20 years would give you extra $94,543.00, assuming a 10% annual return.
CHILDRENS HEALTHCARE OF ATLANTA INC SHARE PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 100% of their eligible compensation, subject to certain Plan and IRS limitations.
2. Employer Match/Contribution Conditions: The employer matches 100% of participant contributions not to exceed 4% of the participant’s eligible compensation for all participants who work greater than 1,000 hours during the Plan year.
3. Vesting Schedule/Eligibility: All participant contributions and Plan Sponsor matching contributions are immediately vested. Eligibility requires employees to participate on their date of hire.
4. Yes, the plan allows for Roth 401(k) contributions.
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