NCAA 403(B) SAVINGS PLAN Contribution & Employer Match
NCAA 403(B) SAVINGS PLAN Contribution & Employer Match
NCAA provides the following retirement savings benefits to its employees:
NCAA 403(B) SAVINGS PLAN Average Participant Retirement Account Value
NCAA 403(B) SAVINGS PLAN Estimated Average Employee Contribution Amount
397,867.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,216.00 in NCAA 403(B) 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 NCAA 403(B) 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’.
NCAA 403(B) SAVINGS PLAN Total Employer Contribution and Match Rate
NCAA 403(B) SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $6.00 for 20 years would give you extra $428.00, assuming a 10% annual return.
NCAA 403(B) SAVINGS PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 5% of their salary to the plan after auto-enrollment.
2. Employer Match/Contribution Conditions: The specific conditions for employer matching or contributions are not detailed in the provided text.
3. Vesting Schedule/Eligibility: Participants are always 100% vested in their account balances. Eligibility requirements state that an employee is eligible to participate in the plan on their first day of employment.
4. Roth 401(k) Contribution: Yes, the plan allows for Roth deferrals.
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