HONEYWELL SAVINGS AND OWNERSHIP PLAN I
Contribution & Savings
HONEYWELL SAVINGS AND OWNERSHIP PLAN I Estimated Average Employee Contribution Amount
In 2005, the estimated average employee contribution amount per participant for HONEYWELL SAVINGS AND OWNERSHIP PLAN I is $7,581.00. 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.
485,228.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,581.00 in HONEYWELL SAVINGS AND OWNERSHIP PLAN I, assuming a 10%* annual return.
485,228.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,581.00 in HONEYWELL SAVINGS AND OWNERSHIP PLAN I, 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.
Keep researching HONEYWELL SAVINGS AND OWNERSHIP PLAN I
Use the links below to move from this plan page into calculators, related retirement articles, and comparable plans in a similar industry or size band. That gives you a faster way to compare match design, fees, investments, and savings strategy in context.
Related Calculators
- 401(k) Employer Match Calculator
- Investment Fee Impact Calculator
- Mega Backdoor Roth 401(k) Calculator
Related Plans
- JOHNSON AND JOHNSON SAVINGS PLAN (72,991 participants, $23,584,765,150)
- HONEYWELL 401(K) PLAN (60,090 participants, $16,316,486,587)
- HONEYWELL SAVINGS AND OWNERSHIP PLAN (82,817 participants, $15,528,516,125)
- 3M VOLUNTARY INVESTMENT PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN (52,897 participants, $10,596,010,150)
- SARA LEE CORPORATION 401K SUPPLEMENTAL SAVINGS PLAN (48,557 participants, $1,275,967,216)