NETBASE SOLUTIONS, INC. 401(K) PLAN Contribution & Employer Match
NETBASE SOLUTIONS, INC. 401(K) PLAN Contribution & Employer Match
NETBASE SOLUTIONS, INC. provides the following retirement savings benefits to its employees:
NETBASE SOLUTIONS, INC. 401(K) PLAN Average Participant Retirement Account Value
NETBASE SOLUTIONS, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
614,212.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 9,597.00 in NETBASE SOLUTIONS, INC. 401(K) 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 NETBASE SOLUTIONS, INC. 401(K) 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’.
NETBASE SOLUTIONS, INC. 401(K) PLAN Total Employer Contribution and Match Rate
NETBASE SOLUTIONS, INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $1,989.00 for 20 years would give you extra $127,303.00, assuming a 10% annual return.
NETBASE SOLUTIONS, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to 80% of their pre-tax or after-tax annual compensation.
2. Employer Match/Contribution Conditions: The employer matches 50% of participant contributions, up to a maximum of 4% of eligible compensation.
3. Vesting Schedule/Eligibility: Participants are fully vested (100%) in their contributions, rollovers, and employer contributions. Eligible employees must be age 21 or older and may participate in the Plan the first day of the month following their date of hire.
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