COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN Contribution & Employer Match

COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN Contribution & Employer Match

COEUR MINING, INC. provides the following retirement savings benefits to its employees:

COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN is $103,342.00

COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN is $6,795.00. 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.
434,908.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,795.00 in COEUR MINING DEFINED CONTRIBUTION AND 401K 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 COEUR MINING DEFINED CONTRIBUTION AND 401K 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’.

COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN Total Employer Contribution and Match Rate

In 2023, COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN allocates $7,326,684.00 to match its employees' contributions, providing an employer match rate of 70.56% of their contributions

COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN is approximately $4,602.00
Investing in this additonal $4,602.00 for 20 years would give you extra $294,540.00, assuming a 10% annual return.

COEUR MINING DEFINED CONTRIBUTION AND 401K PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants may contribute on a pre-tax or Roth basis, with automatically enrolled participants having their deferral rate set at 6% of eligible compensation.

2. Employer Match/Contribution Conditions: The employer contributes a safe harbor matching contribution equal to 100% of the first 6% of a participant’s eligible compensation contributed.

3. Vesting Schedule/Eligibility: Participants are fully vested in their contributions and the Company matching contributions at all times. Vesting in the Company profit-sharing contribution is based on years of continuous service, increasing by 25% each year until becoming 100% vested after four years. Participants become fully vested in the event of death or disability.

4. Roth 401(k) contribution: Yes, the plan allows Roth 401(k) contributions.

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