NEWPORT GROUP, INC. 401(K) PLAN Contribution & Employer Match
NEWPORT GROUP, INC. 401(K) PLAN Contribution & Employer Match
NEWPORT GROUP, INC. provides the following retirement savings benefits to its employees:
NEWPORT GROUP, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
55,856.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 872.00 in NEWPORT GROUP, 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 NEWPORT GROUP, 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’.
NEWPORT GROUP, INC. 401(K) PLAN Total Employer Contribution and Match Rate
NEWPORT GROUP, INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $191.00 for 20 years would give you extra $12,261.00, assuming a 10% annual return.
NEWPORT GROUP, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants could contribute up to 100% of their compensation.
2. Employer Match/Contribution Conditions: The Company matched 50% of deferrals up to 6% of a participant's compensation.
3. Vesting Schedule/Eligibility: Vesting in Employer matching contributions is based on years of service and fully vests after three years. Vesting in Employer profit-sharing contributions is based on years of service: 20% after one year, 40% after two years, 60% after three years, 80% after four years, and 100% after five years or more.
4. Roth 401(k) contribution: Yes, participants could contribute as Roth deferrals.
Recent Articles
- Roth IRAs for Retirees
- Lazy Portfolios Aren't Lazy in Growing Wealth
- Lazy Portfolios in Different Market Conditions
- Tax-Efficient Lazy Portfolios
- Lazy Portfolios for Retirement Investing
- How to Implement a Lazy Portfolio
- What Are Lazy Portfolios?
- IRAs as One of the Emergency Fund Sources
- How to Borrow From an IRA?
Free newsletters
High quality resources for 401k, 403b, 529 retirement plans on investment, contribution, fees, retirement planning and much more ...
Puzzled on what to invest?
- We ask a few questions to decide your personal return and risk expectations
- We build a custom portfolio for your plan (401(k), 403(b), 529 ...) or for a brokerage account
- We monitor and send timely rebalance emails on what investment funds to buy and sell
Looking for ideas to generate income?
- ETF or mutual fund income portfolios for 4-7% annual income
- Dividend stock funds
- Passive real estate investments
- more ...
Portfolio Calculator (Simulator)
Customize Asset Allocation Portfolios
Retirement Calculator
Investment Calculator
Looking for a (forgotten) 401(k)?
Find plan contact info, plan expenses, investment options, rollover your old plan, or learn how to select investments on your 401k plan ...