UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN Contribution & Employer Match

UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN Contribution & Employer Match

UROLOGY OF ST. LOUIS, INC. provides the following retirement savings benefits to its employees:

UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN is $142,551.00

UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN is $4,609.00. 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.
294,997.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,609.00 in UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING 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 UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING 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’.

UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2023, UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN allocates $2,365,306.00 to match its employees' contributions, providing an employer match rate of 203.23% of their contributions

UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN is approximately $8,270.00
Investing in this additonal $8,270.00 for 20 years would give you extra $529,299.00, assuming a 10% annual return.

UROLOGY OF ST. LOUIS, INC. 401(K) PROFIT SHARING PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants may make voluntary salary reductions (participant contributions) up to the maximum amount allowed by the IRS; for 2022, the deferral limit was $20,500.

2. Employer Match/Contribution Conditions: The Company makes safe harbor non-elective contributions equal to 3% of an eligible participant’s compensation and may make profit-sharing contributions, which will be allocated among participants who have completed one year of service. During 2022, the Company contributed 4% of eligible compensation and made profit-sharing contributions of approximately $1,013,000.

3. Vesting Schedule/Eligibility: Participants are 100 percent vested in their salary deferral contributions, rollover contributions, Company contributions, and earnings upon entry into the Plan. Profit-sharing contributions require one year of service for eligibility.

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