GREENBERG TRAURIG 401(K) PLAN Contribution & Employer Match
GREENBERG TRAURIG 401(K) PLAN Contribution & Employer Match
GREENBERG TRAURIG, PA provides the following retirement savings benefits to its employees:
GREENBERG TRAURIG 401(K) PLAN Average Participant Retirement Account Value
GREENBERG TRAURIG 401(K) PLAN Estimated Average Employee Contribution Amount
773,081.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 12,079.00 in GREENBERG TRAURIG 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 GREENBERG TRAURIG 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’.
GREENBERG TRAURIG 401(K) PLAN Total Employer Contribution and Match Rate
GREENBERG TRAURIG 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $9,530.00 for 20 years would give you extra $609,977.00, assuming a 10% annual return.
GREENBERG TRAURIG 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees may contribute up to 75% of pre-tax annual compensation, subject to an IRS maximum of $20,500 for 2022.
2. Employer Match/Contribution Conditions: The employer matches 100% of the participant’s contributions up to a maximum of $250 per year, but attorneys who are associates or of counsel and not eligible for shareholder benefits are not eligible for employer matching contributions.
3. Vesting Schedule/Eligibility: Participants other than associate attorneys are 100% vested in their accounts. Associate attorneys are vested in the portion of their accounts attributable to the Company’s discretionary contributions at the rate of 20% per year of service.
4. Roth 401(k) Contribution: Effective June 4, 2007, Roth Elective Deferrals are permitted under the Plan.
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