COLLIERS MORTGAGE HOLDINGS LLC EMPLOYEE 401(K) PLAN Contribution & Employer Match
COLLIERS MORTGAGE HOLDINGS LLC EMPLOYEE 401(K) PLAN Contribution & Employer Match
COLLIERS MORTGAGE HOLDINGS LLC provides the following retirement savings benefits to its employees:
COLLIERS MORTGAGE HOLDINGS LLC EMPLOYEE 401(K) PLAN Average Participant Retirement Account Value
COLLIERS MORTGAGE HOLDINGS LLC EMPLOYEE 401(K) PLAN Estimated Average Employee Contribution Amount
664,942.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 10,389.00 in COLLIERS MORTGAGE HOLDINGS LLC EMPLOYEE 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 COLLIERS MORTGAGE HOLDINGS LLC EMPLOYEE 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’.
COLLIERS MORTGAGE HOLDINGS LLC EMPLOYEE 401(K) PLAN Total Employer Contribution and Match Rate
COLLIERS MORTGAGE HOLDINGS LLC EMPLOYEE 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $2,407.00 for 20 years would give you extra $154,060.00, assuming a 10% annual return.
COLLIERS MORTGAGE HOLDINGS LLC EMPLOYEE 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute from 1% to 50% of their gross compensation.
2. Employer Match/Contribution Conditions: The employer matches 50% of employee contributions up to 4% of eligible compensation, and participants must have completed one full year of service and be employed at the end of the plan year.
3. Vesting Schedule/Eligibility: All contributions are 100% vested immediately. Eligibility requires employees to be at least 21 years old and to have completed 1,000 hours of service for temporary employees.
4. Roth 401(k) contribution: The plan allows Roth (after-tax) contributions.
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