ALLEGACY RETIREMENT SAVINGS PLAN Contribution & Employer Match

How ALLEGACY FEDERAL CREDIT UNION Supports Your Retirement Savings

ALLEGACY FEDERAL CREDIT UNION provides retirement savings benefits through ALLEGACY RETIREMENT SAVINGS 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.

ALLEGACY RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for ALLEGACY RETIREMENT SAVINGS PLAN is $102,626.00

ALLEGACY RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for ALLEGACY RETIREMENT SAVINGS PLAN is $5,103.00. 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.
326,623.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,103.00 in ALLEGACY RETIREMENT SAVINGS PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in ALLEGACY RETIREMENT SAVINGS 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.

ALLEGACY RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate

In 2024, ALLEGACY RETIREMENT SAVINGS PLAN allocates $1,145,248.00 to match its employees’ contributions, providing an employer match rate of 45.15% of their contributions

ALLEGACY RETIREMENT SAVINGS PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in ALLEGACY RETIREMENT SAVINGS PLAN is approximately $2,276.00
Investing in this additonal $2,276.00 for 20 years would give you extra $145,717.00, 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.

ALLEGACY RETIREMENT SAVINGS PLAN Contribution & Match Policy

ALLEGACY RETIREMENT SAVINGS PLAN Plan Policies

ALLEGACY RETIREMENT SAVINGS PLAN Contribution, Match and Other Plan Policies

  • Each pay period, participants may contribute salary deferred (pre-tax) and Roth (after-tax) contributions to the Plan.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • The Plan has an automatic enrollment feature for new employees of the Credit Union at a deferral rate of 3% of compensation as defined by the Plan document.
  • In addition, the Plan has an automatic escalation clause for participants automatically enrolled which includes scheduled increases of deferral rates by 1% annually, effective during the first pay period in April of each year (beginning after the Plan Year in which the participant is first subject to automatic contributions), until the deferral rate reaches 10%.
  • The Credit Union makes a safe harbor matching contribution equal to 100% of salary deferrals that do not exceed 3% of compensation, plus 50% of salary deferrals between 3% and 5% of compensation.
  • Participants are immediately vested in their deferral contributions and safe harbor matching contributions plus actual earnings thereon.
  • The Credit Union’s matching or profit-sharing contributions and earnings thereon for all participants are based on years of continuous service and vest after three years of service.

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:

 20242025
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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