STRATEGIC EDUCATION, INC. 401(K) PLAN Contribution & Employer Match
STRATEGIC EDUCATION, INC. 401(K) PLAN Contribution & Employer Match
STRATEGIC EDUCATION, INC. provides the following retirement savings benefits to its employees:
STRATEGIC EDUCATION, INC. 401(K) PLAN Average Participant Retirement Account Value
STRATEGIC EDUCATION, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
228,672.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,573.00 in STRATEGIC EDUCATION, 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 STRATEGIC EDUCATION, 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’.
STRATEGIC EDUCATION, INC. 401(K) PLAN Total Employer Contribution and Match Rate
STRATEGIC EDUCATION, INC. 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $1,471.00 for 20 years would give you extra $94,171.00, assuming a 10% annual return.
STRATEGIC EDUCATION, INC. 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Participants may contribute up to 75% of pre-tax annual compensation.
2. Employer Match/Contribution Conditions: The Company contributes 100% of the first 2% and 50% of the next 2% of base compensation that a participant contributes to the plan.
3. Vesting Schedule/Eligibility: Participants are vested immediately in their contributions plus actual earnings, as well as the Company’s matching portion. Certain participants become fully vested in the Company’s matching contributions after two years of service if their account balances were transferred from a prior plan and they terminated before December 31, 2019.
4. It allows Roth 401(k) contributions.
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