NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN Contribution & Employer Match
NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN Contribution & Employer Match
NORTHBAY HEALTHCARE CORPORATION provides the following retirement savings benefits to its employees:
NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN Average Participant Retirement Account Value
NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN Estimated Average Employee Contribution Amount
384,739.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,011.00 in NORTHBAY HEALTHCARE 403(B) 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 NORTHBAY HEALTHCARE 403(B) 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’.
NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN Total Employer Contribution and Match Rate
NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $2,640.00 for 20 years would give you extra $169,007.00, assuming a 10% annual return.
NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees may contribute up to the maximum deferral limit per Section 402(g)(1) of the IRC.
2. Employer Match/Contribution Conditions: The employer makes a basic matching contribution equal to 50% of deferrals for participants who defer a minimum of 2% of their compensation, and an enhanced matching contribution equal to 100% of deferrals up to a percentage of compensation based on years of service.
3. Vesting Schedule/Eligibility: Employer matching contributions are fully vested at all times except for employees hired on or after January 1, 2019, who have a 3-year cliff vesting schedule.
Recent Articles
- 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?
- Special Issue: Staying the Course Amid Market Turmoil
- A Step-by-Step Guide to Finding Your Old 401(k) Account
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 ...