TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN Contribution & Employer Match

TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN Contribution & Employer Match

TSI SEMICONDUCTORS AMERICA LLC provides the following retirement savings benefits to its employees:

TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN is $0.00

TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN is $3,068.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
196,405.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,068.00 in TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-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 TSI SEMICONDUCTORS AMERICA LLC 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’.

TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN allocates $321,657.00 to match its employees' contributions, providing an employer match rate of 23.47% of their contributions

TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN is approximately $703.00
Investing in this additonal $703.00 for 20 years would give you extra $45,046.00, assuming a 10% annual return.

TSI SEMICONDUCTORS AMERICA LLC 401(K) PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 75 percent of their pretax eligible compensation.

2. Employer Match/Contribution Conditions: The employer matches each participant’s deferral at a rate of 50 percent on the first six percent of eligible compensation deferred by the participant, not to exceed $4,000. Participants must have been employed for a minimum of 12 months to be eligible for the discretionary matching and non-elective Company contributions.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions, QNEC, and Company discretionary matching contributions. For Company discretionary non-elective contributions, participants are 50 percent vested after two years of service and 100 percent vested after three years of service.

4. Roth 401(k) Contribution: The plan allows for Roth deferrals.

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