MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN Contribution & Employer Match

MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN Contribution & Employer Match

MURATA ELECTRONICS NORTH AMERICA, INC. provides the following retirement savings benefits to its employees:

MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN is $194,520.00

MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN is $8,744.00. 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.
559,629.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,744.00 in MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN, 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 MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' 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’.

MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN allocates $3,349,630.00 to match its employees' contributions, providing an employer match rate of 56.17% of their contributions

MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN is approximately $4,520.00
Investing in this additonal $4,520.00 for 20 years would give you extra $289,306.00, assuming a 10% annual return.

MURATA ELECTRONICS NORTH AMERICA, INC. EMPLOYEES' RETIREMENT SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: 1% to 50% of their eligible earnings.

2. Employer Match/Contribution Conditions: The employer matches 100% of each $1 contributed up to 6% of each employee's annual compensation.

3. Vesting Schedule/Eligibility: A participant's interest in discretionary contributions is 20% vested after 1,000 hours in one completed year of service, with subsequent vesting at 20% per 1,000-hour service year until fully vested. Eligibility requires completion of 1,000 hours of service in a Plan year.

4. Allows Roth 401(k) contributions: Yes.

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