POLYGLASS USA, INC. 401(K) PLAN Contribution & Employer Match
POLYGLASS USA, INC. 401(K) PLAN Contribution & Employer Match
POLYGLASS USA, INC. provides the following retirement savings benefits to its employees:
POLYGLASS USA, INC. 401(K) PLAN Average Participant Retirement Account Value
POLYGLASS USA, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
349,074.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,454.00 in POLYGLASS USA, 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 POLYGLASS USA, 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’.
POLYGLASS USA, INC. 401(K) PLAN Total Employer Contribution and Match Rate
POLYGLASS USA, INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $3,323.00 for 20 years would give you extra $212,675.00, assuming a 10% annual return.
POLYGLASS USA, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: 90% of pre-tax annual compensation.
2. Employer Match/Contribution Conditions: 100% of the first 6% of base compensation that a participant contributes to the Plan.
3. Vesting Schedule/Eligibility: Participants are vested immediately in their contributions and the Company's safe harbor contributions, plus actual earnings thereon. The Company's non-elective discretionary contribution portion of their accounts is fully vested. Eligibility requires one year of service and being age 21 or older.
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