In an era where retirement security is a growing concern, Arc Mercer stands out with its exemplary 401(k) plan, setting a high standard for generosity and employee investment options. The Arc Mercer not only fulfills its mission in its services but also in its commitment to employee welfare.
Arc Mercer's 401(k) plan is designed to be accessible and rewarding for employees. After just three months on the job, you own every dollar you put in right away.
Not only can you put your own money in, but Arc Mercer also chips in. They give you a Safe Harbor Contribution equal to 3% of your salary, no strings attached. Plus, they match up to 6% of what you contribute from your own paycheck. This extra boost encourages you to save more and makes your retirement savings grow faster.
If you stick around with Arc Mercer, the benefits keep coming. Each year you are here, the portion of the Arc's contribution that's yours to keep increases. There's even an annual discretionary contribution, which is like a bonus of up to 2% of your salary
One of the most striking aspects of Arc Mercer's 401(k) plan is its low fees and high ratings in comparison to competitors. The plan's total cost is among the lowest in the industry, ensuring that employees' hard-earned money is maximized for their future. Moreover, Arc Mercer's plan received a well above average grade in company generosity rating, highlighting its commitment to employee financial well-being.
Let's delve into the numbers to illustrate the impact of Arc Mercer's retirement plan. Consider an employee with a $50,000 salary who contributes 10% of their earnings. With the full company match, Safe Harbor Contribution, and discretionary profit-sharing contribution, the total combined contribution from Arc Mercer amounts to an impressive 11% of the employee's salary.
Over 20 years, assuming a conservative 5% return, this translates to a substantial $347,192 in retirement savings. Extend that to 30 years, and the total balloons to an impressive $697,607.
In conclusion, Arc Mercer's 401(k) plan is not just a retirement savings vehicle; it's a testament to the organization's dedication to its employees' financial security and well-being. By offering generous contributions, low fees, and a wide array of investment options, Arc Mercer is leading the way in setting new standards for retirement benefits in the nonprofit sector and beyond.
For employees, it's not just about a job; it's about securing a prosperous future with a company that truly cares.
Click here to enroll today! Follow the instructions to set up your online account now. For any questions feel free to reach out to the HR Hotline 609-643-4447 or email benefits@arcmercer.org
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