KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES Contribution & Employer Match

KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES Contribution & Employer Match

NATIONAL GRID USA SERVICE COMPANY provides the following retirement savings benefits to its employees:

KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES Estimated Average Employee Contribution Amount

In 2007, the estimated average employee contribution amount per participant for KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES is $9,472.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
606,264.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 9,472.00 in KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-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 KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES

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’.

KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES Total Employer Contribution and Match Rate

In 2007, KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES allocates $8,751,418.00 to match its employees' contributions, providing an employer match rate of 34.35% of their contributions

KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES Estimated Average Employer Match

In 2007, the estimated average employer match for an employee in KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES is approximately $1,626.00
Investing in this additonal $1,626.00 for 20 years would give you extra $104,125.00, assuming a 10% annual return.

KEYSPAN ENERGY 401K PLAN FOR MANAGEMENT EMPLOYEES Contribution & Match Policy

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