PUBWORX 401(K) PLAN Contribution & Employer Match
PUBWORX 401(K) PLAN Contribution & Employer Match
PUBWORX SERVICES LLC provides the following retirement savings benefits to its employees:
PUBWORX 401(K) PLAN Average Participant Retirement Account Value
PUBWORX 401(K) PLAN Estimated Average Employee Contribution Amount
497,491.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,773.00 in PUBWORX 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 PUBWORX 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’.
PUBWORX 401(K) PLAN Total Employer Contribution and Match Rate
PUBWORX 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $1,161.00 for 20 years would give you extra $74,341.00, assuming a 10% annual return.
PUBWORX 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to 25% of pre-tax annual eligible compensation.
2. Employer Match/Contribution Conditions: The Company matches 50% of each participant’s deferral contributions, up to 3% of the participant’s eligible compensation, and matches for employees who have completed one year of credited service.
3. Vesting Schedule/Eligibility: A participant is 100% vested in the Company’s matching contributions after three years of credited service. Participants are eligible to participate in the plan upon commencement of employment.
4. Roth 401(k) Contribution: Participants may designate a portion or all of their deferral contribution as a Roth 401(k) contribution.
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