ANCO INSURANCE MANAGERS, INC. 401(K) PLAN Contribution & Employer Match

How ANCO INSURANCE MANAGERS, INC. Supports Your Retirement Savings

ANCO INSURANCE MANAGERS, INC. provides retirement savings benefits through ANCO INSURANCE MANAGERS, INC. 401(K) 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.

ANCO INSURANCE MANAGERS, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for ANCO INSURANCE MANAGERS, INC. 401(K) PLAN is $18,207.00

ANCO INSURANCE MANAGERS, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for ANCO INSURANCE MANAGERS, INC. 401(K) PLAN is $7,116.00. 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.
455,442.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,116.00 in ANCO INSURANCE MANAGERS, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in ANCO INSURANCE MANAGERS, INC. 401(K) 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.

ANCO INSURANCE MANAGERS, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, ANCO INSURANCE MANAGERS, INC. 401(K) PLAN allocates $629,573.00 to match its employees’ contributions, providing an employer match rate of 58.01% of their contributions

ANCO INSURANCE MANAGERS, INC. 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in ANCO INSURANCE MANAGERS, INC. 401(K) PLAN is approximately $3,536.00
Investing in this additonal $3,536.00 for 20 years would give you extra $226,363.00, 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.

ANCO INSURANCE MANAGERS, INC. 401(K) PLAN Contribution & Match Policy

ANCO INSURANCE MANAGERS, INC. 401(K) PLAN Plan Policies

ANCO INSURANCE MANAGERS, INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Participants may contribute 100% of pretax annual compensation up to limits specified by the Internal Revenue Code as a salary deferral election.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (rollover).
  • Beginning January 1, 2017, the Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan.
  • Automatically enrolled participants have their deferral rate set at 4% of eligible compensation and their contributions invested in a designated target fund until changed by the participant.
  • In order to maintain safe harbor status, the Company began making safe harbor matching contributions beginning January 1, 2003, by contributing an amount equal to 100% of the first 4% of each participant’s contribution.
  • Prior to this, the Company made matching contributions by contributing an amount equal to 50% of the first 6% of each participant’s contribution.
  • Participants are immediately vested in their voluntary contributions, rollover contributions, and safe harbor matching contributions plus actual earnings thereon. Prior to Plan termination, vesting in the remainder of their accounts plus actual earnings thereon was based on years of continuous service as follows:
  • Less than 2 years: 0%

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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