PITNEY BOWES INC. 401(K) PLAN Contribution & Employer Match
PITNEY BOWES INC. 401(K) PLAN Contribution & Employer Match
PITNEY BOWES INC. provides the following retirement savings benefits to its employees:
PITNEY BOWES INC. 401(K) PLAN Average Participant Retirement Account Value
PITNEY BOWES INC. 401(K) PLAN Estimated Average Employee Contribution Amount
223,786.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,496.00 in PITNEY BOWES 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 PITNEY BOWES 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’.
PITNEY BOWES INC. 401(K) PLAN Total Employer Contribution and Match Rate
PITNEY BOWES INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $1,880.00 for 20 years would give you extra $120,374.00, assuming a 10% annual return.
PITNEY BOWES INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute from 1% to 50% of their eligible pay.
2. Employer Match/Contribution Conditions: The employer matches 100% of a participant's deferral up to 4% of compensation and 50% of a participant's deferral up to 3% of compensation for non-exempt employees.
3. Vesting Schedule/Eligibility: Participants are 100% vested in employer contributions after three years of service. A participant must complete a one-year period of service to be eligible for employer matching contributions.
4. Roth 401(k) Contribution: The plan allows Roth 401(k) contributions.
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