BARRE BELT 401(K) RETIREMENT PLAN & TRUST Contribution & Employer Match

How BARRE BELT Supports Your Retirement Savings

BARRE BELT provides retirement savings benefits through BARRE BELT 401(K) RETIREMENT PLAN & TRUST. 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.

BARRE BELT 401(K) RETIREMENT PLAN & TRUST Average Participant Retirement Account Value

In 2024, the average participant retirement account value for BARRE BELT 401(K) RETIREMENT PLAN & TRUST is $61,045.00

BARRE BELT 401(K) RETIREMENT PLAN & TRUST Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for BARRE BELT 401(K) RETIREMENT PLAN & TRUST is $2,667.00. 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.
170,722.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,667.00 in BARRE BELT 401(K) RETIREMENT PLAN & TRUST, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in BARRE BELT 401(K) RETIREMENT PLAN & TRUST

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.

BARRE BELT 401(K) RETIREMENT PLAN & TRUST Total Employer Contribution and Match Rate

In 2024, BARRE BELT 401(K) RETIREMENT PLAN & TRUST allocates $61,282.00 to match its employees’ contributions, providing an employer match rate of 14.31% of their contributions

BARRE BELT 401(K) RETIREMENT PLAN & TRUST Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in BARRE BELT 401(K) RETIREMENT PLAN & TRUST is approximately $383.00
Investing in this additonal $383.00 for 20 years would give you extra $24,512.00, 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.

BARRE BELT 401(K) RETIREMENT PLAN & TRUST Contribution & Match Policy

BARRE BELT 401(K) RETIREMENT PLAN & TRUST Plan Policies

BARRE BELT 401(K) RETIREMENT PLAN & TRUST Contribution, Match and Other Plan Policies

  • Participants may make voluntary salary deferrals, including Roth deferrals, pursuant to Section 401(k) of the Internal Revenue Code (IRC) up to the maximum amount allowed by law.
  • Participants are automatically enrolled in the Plan at a pre-tax elective deferral rate of 3% of compensation unless they opt out.
  • The Employers’ obligation for matching an employee’s deferral is determined by a collective bargaining agreement between the Employers and the union.
  • The Employers match 25% of the first $1,000 of the participant’s contribution and 10% of contributions over $1,000.
  • Certain Employers who negotiate separately with the union may match 20% to 35% of the first $1,000 to $2,000 and 10% of contributions over $1,000 to $2,000, depending on the Employer.
  • The Employers’ contribution is capped at $6,000 per employee, unless negotiated separately.
  • No employer contribution exceeds $8,000 per employee.
  • The balance in each participant’s account is fully vested at all times and is not subject to forfeiture for any reason.

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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