SEVERSTAL DEARBORN, LLC TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES
Contribution & Savings
SEVERSTAL DEARBORN, LLC TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES Average Participant Retirement Account Value
In 2013, the average participant retirement account value for SEVERSTAL DEARBORN, LLC TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES is $43,614.00
SEVERSTAL DEARBORN, LLC TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES Estimated Average Employee Contribution Amount
In 2013, the estimated average employee contribution amount per participant for SEVERSTAL DEARBORN, LLC TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES is $5,595.00. 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.
358,127.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,595.00 in SEVERSTAL DEARBORN, LLC TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES, assuming a 10%* annual return.
358,127.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,595.00 in SEVERSTAL DEARBORN, LLC TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES, 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 SEVERSTAL DEARBORN, LLC TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES
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
- AMSTED RETIREMENT SAVINGS PLAN FOR BARGAINING EMPLOYEES (1,900 participants, $57,036,944)
- NORTH AMERICAN STAINLESS SAVINGS PLAN (1,884 participants, $334,820,209)
- STEEL TECHNOLOGIES LLC RETIREMENT SAVINGS PLAN (1,868 participants, $190,576,527)
- EMR USA RETIREMENT SAVINGS PLAN (2,046 participants, $84,902,212)
- IPSCO TUBULARS INC. RETIREMENT SAVINGS AND PROFIT SHARING PLAN (2,227 participants, $58,905,350)