THE HUNTINGTON 401(K) PLAN Contribution & Employer Match
THE HUNTINGTON 401(K) PLAN Contribution & Employer Match
HUNTINGTON BANCSHARES INCORPORATED provides the following retirement savings benefits to its employees:
THE HUNTINGTON 401(K) PLAN Average Participant Retirement Account Value
THE HUNTINGTON 401(K) PLAN Estimated Average Employee Contribution Amount
408,096.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,376.00 in THE HUNTINGTON 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 THE HUNTINGTON 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’.
THE HUNTINGTON 401(K) PLAN Total Employer Contribution and Match Rate
THE HUNTINGTON 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $2,443.00 for 20 years would give you extra $156,375.00, assuming a 10% annual return.
THE HUNTINGTON 401(K) PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 75% of their eligible compensation.
2. Employer Match/Contribution Conditions: Huntington matches contributions equal to 150% on the first 2% of participant elective deferrals and 100% of the next 1% of participant elective deferrals.
3. Vesting Schedule/Eligibility: Employer matching contributions are on a two-year cliff-vesting schedule. After two years of service, employer matching contributions will be 100% vested. Employees must complete thirty days of employment before they are eligible to participate in the plan.
4. Allows Roth 401(k) contribution: Yes.
Recent Articles
- 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?
- Special Issue: Staying the Course Amid Market Turmoil
- A Step-by-Step Guide to Finding Your Old 401(k) Account
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 ...