L'OREAL TRAVEL RETAIL AMERICAS INC. RETIREMENT PLAN Contribution & Employer Match
L'OREAL TRAVEL RETAIL AMERICAS INC. RETIREMENT PLAN Contribution & Employer Match
L'OREAL TRAVEL RETAIL AMERICAS, INC provides the following retirement savings benefits to its employees:
L'OREAL TRAVEL RETAIL AMERICAS INC. RETIREMENT PLAN Average Participant Retirement Account Value
L'OREAL TRAVEL RETAIL AMERICAS INC. RETIREMENT PLAN Estimated Average Employee Contribution Amount
292,279.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,566.00 in L'OREAL TRAVEL RETAIL AMERICAS INC. RETIREMENT 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 L'OREAL TRAVEL RETAIL AMERICAS INC. RETIREMENT 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’.
L'OREAL TRAVEL RETAIL AMERICAS INC. RETIREMENT PLAN Total Employer Contribution and Match Rate
L'OREAL TRAVEL RETAIL AMERICAS INC. RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $1,532.00 for 20 years would give you extra $98,066.00, assuming a 10% annual return.
L'OREAL TRAVEL RETAIL AMERICAS INC. RETIREMENT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to the maximum percentage allowable of pre-tax and after-tax (Roth) annual compensation, subject to certain limitations under the Code.
2. Employer Match/Contribution Conditions: The Company matches up to 50% of a participant’s elective deferral up to the first 6% of each participant’s eligible compensation.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their elective deferrals and rollover contributions. A participant is 100% vested in employer contributions after three years of credited service. Prior to three years of credited service, participants are 0% vested in employer contributions. Participants become 100% vested regardless of years of service when they reach normal retirement age, are totally and permanently disabled, or death occurs.
4. Roth 401(k) Contribution: Yes, the plan allows for after-tax (Roth) contributions.
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