PENSION PLAN OF SUBARU OF AMERICA, INC. Contribution & Employer Match
PENSION PLAN OF SUBARU OF AMERICA, INC. Contribution & Employer Match
SUBARU OF AMERICA , INC. provides the following retirement savings benefits to its employees:
PENSION PLAN OF SUBARU OF AMERICA, INC. Average Participant Retirement Account Value
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 PENSION PLAN OF SUBARU OF AMERICA, INC.
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’.
PENSION PLAN OF SUBARU OF AMERICA, INC. Estimated Average Employer Match
Investing in this additonal $5,599.00 for 20 years would give you extra $358,376.00, assuming a 10% annual return.
PENSION PLAN OF SUBARU OF AMERICA, INC. Contribution & Match Policy
1. Employee Contribution Rates: The Plan does not permit participant contributions.
2. Employer Match/Contribution Conditions: The Company provides a 5% annual contribution based on each eligible participant's total compensation received during the plan year.
3. Vesting Schedule/Eligibility: A participant's account begins to vest after completing two years of service with the Company, at which time the account is 20% vested. Vesting increases by 20% for each year of service thereafter until 100% vested after six years. A participant is 100% vested if they attain age 65, die, or terminate employment due to disability. Eligibility requires at least 700 hours of service in the first year of employment and active employment until the last day of the plan year following the one-year anniversary date.
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 ...