ULTISAT INC. 401(K) PLAN Contribution & Employer Match

ULTISAT INC. 401(K) PLAN Contribution & Employer Match

ULTISAT INC. provides the following retirement savings benefits to its employees:

ULTISAT INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for ULTISAT INC. 401(K) PLAN is $134,009.00

ULTISAT INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for ULTISAT INC. 401(K) PLAN is $6,376.00. 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.
408,109.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,376.00 in ULTISAT INC. 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 ULTISAT 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’.

ULTISAT INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, ULTISAT INC. 401(K) PLAN allocates $616,996.00 to match its employees' contributions, providing an employer match rate of 46.30% of their contributions

ULTISAT INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in ULTISAT INC. 401(K) PLAN is approximately $3,213.00
Investing in this additonal $3,213.00 for 20 years would give you extra $205,665.00, assuming a 10% annual return.

ULTISAT INC. 401(K) PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute up to 90 percent of their pre-tax annual compensation.

2. Employer Match/Contribution Conditions: The employer matches 100 percent of the participant’s deferral but not to exceed 5 percent of year-to-date gross earnings and not to exceed the year-to-date deferral of the participant.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions, including elective pre-tax deferral contributions and Roth 401(k) deferrals. Participants are 100 percent vested upon death, disability, normal retirement age (65), or early retirement.

4. Roth 401(k) Contribution: Yes, the plan allows for Roth 401(k) contributions.


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