FIRST INDUSTRIAL, L.P. 401(K) PLAN Contribution & Employer Match
FIRST INDUSTRIAL, L.P. 401(K) PLAN Contribution & Employer Match
FIRST INDUSTRIAL, L.P. provides the following retirement savings benefits to its employees:
FIRST INDUSTRIAL, L.P. 401(K) PLAN Average Participant Retirement Account Value
FIRST INDUSTRIAL, L.P. 401(K) PLAN Estimated Average Employee Contribution Amount
540,097.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,439.00 in FIRST INDUSTRIAL, L.P. 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 FIRST INDUSTRIAL, L.P. 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’.
FIRST INDUSTRIAL, L.P. 401(K) PLAN Total Employer Contribution and Match Rate
FIRST INDUSTRIAL, L.P. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $5,237.00 for 20 years would give you extra $335,193.00, assuming a 10% annual return.
FIRST INDUSTRIAL, L.P. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Up to 60% of pretax annual compensation.
2. Employer Match/Contribution Conditions: Matches participant contributions up to 6% of eligible compensation at a rate of 100%, limited to a participant’s first $305,000 of eligible compensation. Participants must be actively employed on December 31st to receive the annual match.
3. Vesting Schedule/Eligibility: All contributions and earnings are fully and immediately vested. Eligibility requires employees to have reached age 21 and to participate on the first day of the month following their first day of employment.
4. Roth 401(k) Contribution: Yes, participants may designate some or all of their contributions as post-tax Roth contributions.
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