DARIGOLD, INC. 401(K) SAVINGS PLAN Contribution & Employer Match

DARIGOLD, INC. 401(K) SAVINGS PLAN Contribution & Employer Match

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

DARIGOLD, INC. 401(K) SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for DARIGOLD, INC. 401(K) SAVINGS PLAN is $105,514.00

DARIGOLD, INC. 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for DARIGOLD, INC. 401(K) SAVINGS PLAN is $5,511.00. 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.
352,741.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,511.00 in DARIGOLD, INC. 401(K) SAVINGS 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 DARIGOLD, INC. 401(K) 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’.

DARIGOLD, INC. 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, DARIGOLD, INC. 401(K) SAVINGS PLAN allocates $8,011,069.00 to match its employees' contributions, providing an employer match rate of 106.33% of their contributions

DARIGOLD, INC. 401(K) SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in DARIGOLD, INC. 401(K) SAVINGS PLAN is approximately $5,434.00
Investing in this additonal $5,434.00 for 20 years would give you extra $347,834.00, assuming a 10% annual return.

DARIGOLD, INC. 401(K) SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees may elect to make pre-tax or Roth elective deferrals up to 85% of their annual compensation.

2. Employer Match/Contribution Conditions: The Company matches contributions up to a maximum of 4% of employee compensation and contributes an additional 5% of compensation as employer non-matching contributions to all eligible participants.

3. Vesting Schedule/Eligibility: Participants are fully vested in their contributions. For employer matching contributions, the vesting schedule is: Less than 1 year: 0%, 1 year: 50%, 2 years: 100%. Employees eligible prior to January 1, 2009, become fully vested upon attainment of age 50 and one year of service, disability, or death. Employees eligible on or after January 1, 2009, become fully vested upon attainment of age 55 and one year of service, disability, or death.

4. Roth 401(k) Contribution: Yes, it allows Roth 401(k) contribution.

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