EMPLOYEES' SAVINGS PLAN OF FN AMERICA, LLC Contribution & Employer Match
EMPLOYEES' SAVINGS PLAN OF FN AMERICA, LLC Contribution & Employer Match
FN AMERICA LLC provides the following retirement savings benefits to its employees:
EMPLOYEES' SAVINGS PLAN OF FN AMERICA, LLC Average Participant Retirement Account Value
EMPLOYEES' SAVINGS PLAN OF FN AMERICA, LLC Estimated Average Employee Contribution Amount
407,734.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,370.00 in EMPLOYEES' SAVINGS PLAN OF FN AMERICA, LLC, 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 EMPLOYEES' SAVINGS PLAN OF FN AMERICA, LLC
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’.
EMPLOYEES' SAVINGS PLAN OF FN AMERICA, LLC Total Employer Contribution and Match Rate
EMPLOYEES' SAVINGS PLAN OF FN AMERICA, LLC Estimated Average Employer Match
Investing in this additonal $3,543.00 for 20 years would give you extra $226,766.00, assuming a 10% annual return.
EMPLOYEES' SAVINGS PLAN OF FN AMERICA, LLC Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute from 0% to 100% of their salary to the plan.
2. Employer Match/Contribution Conditions: The employer matches employee contributions at 100% of the first 6% contributed.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions plus actual earnings. Matching contributions made on or after January 1, 2009, are 100% vested. For discretionary contributions made prior to January 1, 2009, participants are 20% vested after two years of service, increasing by 20% each year thereafter until fully vested after six years of service.
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