DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES Contribution & Employer Match

DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES Contribution & Employer Match

DELTA AIR LINES, INC. provides the following retirement savings benefits to its employees:

DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES Average Participant Retirement Account Value

In 2023, the average participant retirement account value for DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES is $6,834.00

DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES is $336.00. 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.
21,518.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 336.00 in DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES, 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 DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES

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’.

DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES Total Employer Contribution and Match Rate

In 2023, DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES allocates $1,089,224.00 to match its employees' contributions, providing an employer match rate of 46.10% of their contributions

DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES is approximately $199.00
Investing in this additonal $199.00 for 20 years would give you extra $12,767.00, assuming a 10% annual return.

DELTA 401(K) RETIREMENT PLAN FOR SEASONAL EMPLOYEES Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 90% of their eligible earnings (limited to 20% for highly compensated employees).

2. Employer Match/Contribution Conditions: The employer provides a fixed contribution of 3% of eligible earnings each pay period, regardless of employee contributions.

3. Vesting Schedule/Eligibility: Employees are immediately vested in all participant contributions. Fixed Contributions vest upon completion of two years of service. However, employees are fully vested immediately upon death, attainment of normal retirement age, or total and permanent disability. For employees hired on or after January 1, 2022, the vesting requirement for Fixed Contributions is two years of service.

4. Roth 401(k) Contribution: The plan allows Roth contributions.

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