INEOS RETIREMENT SAVINGS PLAN Contribution & Employer Match
INEOS RETIREMENT SAVINGS PLAN Contribution & Employer Match
INEOS USA, LLC. provides the following retirement savings benefits to its employees:
INEOS RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value
INEOS RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount
779,258.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 12,175.00 in INEOS RETIREMENT SAVINGS 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 INEOS RETIREMENT SAVINGS 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’.
INEOS RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate
INEOS RETIREMENT SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $8,850.00 for 20 years would give you extra $566,414.00, assuming a 10% annual return.
INEOS RETIREMENT SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: From 1% to 75% of their eligible earnings before and after taxes.
2. Employer Match/Contribution Conditions: Equals a $1-for-$1 matching contribution up to 6% of compensation for most employees, and for WL Plastics employees, it equals a $1-for-$1 matching contribution up to 3% and an 18% matching on the next 3% of compensation.
3. Vesting Schedule/Eligibility: Participants are 100% vested at all times in their contributions. For employer matching contributions, non-WL Plastics participants must have at least three years of service to be 100% vested, while WL Plastics employees must have at least two years of service.
4. Yes, it allows Roth 401(k) contribution.
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