NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN Contribution & Employer Match
How NEW YORK LAW SCHOOL Supports Your Retirement Savings
NEW YORK LAW SCHOOL provides retirement savings benefits through NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.
NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN Average Participant Retirement Account Value
NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN Estimated Average Employee Contribution Amount
243,102.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,798.00 in NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN
An employer match is one of the most valuable benefits in any 401(k) plan — it is essentially free money added to your retirement savings. Your employer contributes additional funds based on a percentage of your own contributions. Missing out on the full match is one of the most common and costly retirement mistakes employees make.
NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN Total Employer Contribution and Match Rate
NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN Estimated Average Employer Match
Investing in this additonal $950.00 for 20 years would give you extra $60,806.00, assuming a 10% annual return.
* Data are from public filings.
Are You Leaving Dollars on the Table?
If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.
Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.
NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN Contribution & Match Policy
NEW YORK LAW SCHOOL DEFINED CONTRIBUTION RET. PLAN Contribution, Match and Other Plan Policies
- Participants may contribute pre-tax compensation, as defined in the Plan, subject to the IRS limitations, by means of payroll deductions.
- The Plan will allow additional "catch-up" contributions at age 50.
- The Plan also allows catch-up contributions for employees with 15 or more years of service who qualify to make additional contributions.
- Upon completion of one year of service, the employee becomes eligible for a matching contribution made by the School.
- The employee must elect to defer 5% of their salary to receive the matching contribution.
- In July 2020, the School authorized an amendment to change the fixed 5% matching contribution to a discretionary matching contribution.
- Only participants already entitled to the fixed 5% matching contribution under the terms of the collective bargaining agreement will continue to receive a nondiscretionary matching contribution of 5%.
- In October 2021, the School partially restored the participant matching contribution ranging from 2% to 4% of annual compensation.
- Participants are immediately vested in their contributions and actual earnings thereon.
- Matching contributions to the Plan made on the participant’s behalf and actual earnings thereon also vest immediately.
- As contributions are fully vested, there are no forfeitures in the Plan.
2025 IRS 401(k) Contribution Limits
The IRS sets annual limits on how much you and your employer can contribute to a 401(k) plan. Knowing these limits helps you maximize tax-advantaged savings. Here are the current limits:
| 2024 | 2025 | |
|---|---|---|
| Employee elective deferrals (pretax + Roth) | $23,000 | $23,500 |
| Employee + employer contributions combined | $69,000 | $70,000 |
| Catch-up contributions (age 50+) | $7,500 | $7,500 |
| Enhanced catch-up (ages 60–63, SECURE 2.0) | N/A | $11,250 |
The power of maxing out: If you contribute the full $23,500 annually for 20 years at a 10% average annual return, you would accumulate approximately $1,505,256. If you can maximize the combined employee+employer limit of $70,000 per year, that grows to roughly $4,480,385 over the same period — more than triple.
Use the 401(k) Savings Calculator to model your specific contribution scenario and see how your savings can grow over time.
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