NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN Contribution & Employer Match

NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN Contribution & Employer Match

NORTHWEST RADIOLOGISTS, INC., P.S. provides the following retirement savings benefits to its employees:

NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN is $194,642.00

NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN is $6,707.00. 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.
429,295.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,707.00 in NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' 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 NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' 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’.

NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN allocates $1,372,823.00 to match its employees' contributions, providing an employer match rate of 115.63% of their contributions

NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN is approximately $7,150.00
Investing in this additonal $7,150.00 for 20 years would give you extra $457,607.00, assuming a 10% annual return.

NORTHWEST RADIOLOGISTS, INC., P.S. EMPLOYEES' SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants may contribute up to 100% of their pre-tax and post-tax annual compensation.

2. Employer Match/Contribution Conditions: The company may make a discretionary matching contribution limited to the first 6% of deferred compensation. Participants must complete 1,000 hours of service during the plan year and be employed on the last day of the plan year to receive contributions.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions and employer matching contributions. Vesting in the company's profit sharing contributions is based on years of continuous service: 20% vested after two years, increasing 20% annually to 100% vested after six years. Participants are fully vested upon normal retirement age, death, or disability.

4. Roth 401(k) Contribution: The plan allows for pre-tax and post-tax contributions, implying it allows Roth 401(k) contributions.

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