BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN Contribution & Employer Match

How BOARS HEAD PROVISION CO., INC. Supports Your Retirement Savings

BOARS HEAD PROVISION CO., INC. provides retirement savings benefits through BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 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.

BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN is $2,535.00

BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN is $357.00. 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.
22,887.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 357.00 in BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 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.

BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN allocates $583,749.00 to match its employees’ contributions, providing an employer match rate of 106.41% of their contributions

BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN is approximately $310.00
Investing in this additonal $310.00 for 20 years would give you extra $19,882.00, 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.

BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN Contribution & Match Policy

BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN Plan Policies

BOARS HEAD PROVISION CO., INC. BARGAINING UNIT-VA 401(K) PLAN Contribution, Match and Other Plan Policies

  • Participants may, upon their discretion, make contributions to the Plan through payroll deductions up to a maximum of $23,000 for 2024 and $22,500 for 2023.
  • Participants age 50 and over have the discretion to contribute an additional $7,500 for 2024 and 2023.
  • The Company contributes to eligible participants as defined in the Plan agreement.
  • Effective November 1, 2023, eligible participants received $100 per month paid the month following the completed service requirements.
  • November 1, 2021 through November 1, 2023 eligible participants received $90 per month paid the month following the completed service requirements.
  • Vesting schedule:
  • 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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