DUNNHUMBY INC. 401(K) PLAN Contribution & Employer Match
DUNNHUMBY INC. 401(K) PLAN Contribution & Employer Match
DUNNHUMBY INC. provides the following retirement savings benefits to its employees:
DUNNHUMBY INC. 401(K) PLAN Average Participant Retirement Account Value
DUNNHUMBY INC. 401(K) PLAN Estimated Average Employee Contribution Amount
514,032.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,031.00 in DUNNHUMBY INC. 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 DUNNHUMBY INC. 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’.
DUNNHUMBY INC. 401(K) PLAN Total Employer Contribution and Match Rate
DUNNHUMBY INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $4,552.00 for 20 years would give you extra $291,328.00, assuming a 10% annual return.
DUNNHUMBY INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to the maximum amount allowable by the Internal Revenue Code.
2. Employer Match/Contribution Conditions: The employer matches 100% of the amount of the participant’s elective deferrals that do not exceed 5% of the eligible participant’s compensation.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions and employer contributions plus actual earnings thereon.
4. Roth 401(k) Contribution: The Plan allows Roth after-tax contributions.
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