ALAMO NURSING HOME INC. – 401K
Contribution & Savings
In 2022, the average participant retirement account value for ALAMO NURSING HOME INC. – 401K is $1,535
In 2022, the estimated average employee contribution amount per participant for ALAMO NURSING HOME INC. – 401K is $815. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, get aspiration from your fellow coworkers, consider contributing more to ensure a comparable or better retirement future.
$52,162: this is the amount you will have accumulated 20 years later if you annually contribute your plan’s average contribution amount $815 in ALAMO NURSING HOME INC. – 401K, assuming a 10%* annual return (6% annual return would be $32,594).
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!