XPEL, INC. RETIREMENT TRUST Contribution & Employer Match
XPEL, INC. RETIREMENT TRUST Contribution & Employer Match
XPEL, INC. provides the following retirement savings benefits to its employees:
XPEL, INC. RETIREMENT TRUST Average Participant Retirement Account Value
XPEL, INC. RETIREMENT TRUST Estimated Average Employee Contribution Amount
285,666.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,463.00 in XPEL, INC. RETIREMENT TRUST, 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 XPEL, INC. RETIREMENT TRUST
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’.
XPEL, INC. RETIREMENT TRUST Total Employer Contribution and Match Rate
XPEL, INC. RETIREMENT TRUST Estimated Average Employer Match
Investing in this additonal $1,629.00 for 20 years would give you extra $104,311.00, assuming a 10% annual return.
XPEL, INC. RETIREMENT TRUST Contribution & Match Policy
1. Employee Contribution Rates: Up to 100% of pretax annual compensation, as defined in the Plan Document, up to the maximum limits of the Internal Revenue Code (IRC).
2. Employer Match/Contribution Conditions: The Company matches contributions of 100% of the first 3% of compensation that a participant contributes to the Plan and 50% of the next 2% of compensation.
3. Vesting Schedule/Eligibility: All employer match contributions are made as immediately vesting safe harbor contributions. For profit-sharing contributions, vesting is in equal installments of 25% annually over four years of service. Eligibility requires completion of two months of service and being at least 21 years old.
4. Roth 401(k) contribution: Participants may designate all or a portion of their deferral contributions as after-tax contributions to a Roth account.
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