BRC 403(B) PLAN Contribution & Employer Match

How BOWERY RESIDENTS’ COMMITTEE, INC. Supports Your Retirement Savings

BOWERY RESIDENTS’ COMMITTEE, INC. provides retirement savings benefits through BRC 403(B) 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.

BRC 403(B) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for BRC 403(B) PLAN is $20,621.00

BRC 403(B) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for BRC 403(B) PLAN is $1,096.00. 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.
70,172.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,096.00 in BRC 403(B) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in BRC 403(B) 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.

BRC 403(B) PLAN Total Employer Contribution and Match Rate

In 2024, BRC 403(B) PLAN allocates $556,243.00 to match its employees’ contributions, providing an employer match rate of 62.48% of their contributions

BRC 403(B) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in BRC 403(B) PLAN is approximately $342.00
Investing in this additonal $342.00 for 20 years would give you extra $21,920.00, 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.

BRC 403(B) PLAN Contribution & Match Policy

BRC 403(B) PLAN Plan Policies

BRC 403(B) PLAN Contribution, Match and Other Plan Policies

  • There is no minimum age requirement and no minimum service requirement for participant contributions.
  • Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
  • A participant’s total elective deferrals in any calendar year may not exceed a certain dollar limit, which is set by law (elective deferral limit).
  • Under the terms of the Plan, an employee is eligible for the Sponsor matching contribution on January 1 and July 1 of each year following the completion of one year of service and attain the age of 18.
  • The Sponsor will make a matching contribution each payroll period equal to 100% of the employee contribution but not to exceed 4% of eligible compensation.
  • Effective July 1, 2023, the Plan was amended to increase the employer matching contribution rate to 6% of eligible compensation.
  • Effective June 9, 2023, the Sponsor can make a nonelective employer contribution at the discretion of the employer at a flat dollar amount.
  • Participants are 100% vested in their voluntary contributions and Sponsor’s contributions plus earnings thereon.

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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