CAROLINA CARING RETIREMENT PLAN Contribution & Employer Match
How CAROLINA CARING, INC. Supports Your Retirement Savings
CAROLINA CARING, INC. provides retirement savings benefits through CAROLINA CARING RETIREMENT 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.
CAROLINA CARING RETIREMENT PLAN Average Participant Retirement Account Value
CAROLINA CARING RETIREMENT PLAN Estimated Average Employee Contribution Amount
173,018.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,703.00 in CAROLINA CARING RETIREMENT PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in CAROLINA CARING RETIREMENT 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.
CAROLINA CARING RETIREMENT PLAN Total Employer Contribution and Match Rate
CAROLINA CARING RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $1,350.00 for 20 years would give you extra $86,423.00, 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.
CAROLINA CARING RETIREMENT PLAN Contribution & Match Policy
CAROLINA CARING RETIREMENT PLAN Contribution, Match and Other Plan Policies
- Each year, participants elect to contribute an amount equal to a dollar amount or percentage of the contributing participant’s compensation as defined by the Plan and not to exceed the limits imposed by the Internal Revenue Code ("IRC").
- Deferrals begin on the first day of the pay period subsequent to enrollment.
- 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.
- 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.
- Automatically enrolled participants have their deferral rate set at 1% of eligible compensation.
- The Plan has an automatic escalation of 1% a year effective every January 1, with a cap at 5%.
- The Organization may contribute an amount equal to a percentage of base compensation that a participant contributes to the Plan.
- The Organization’s matching contribution is a discretionary percentage as determined by the employer.
- The Organization may also make an additional discretionary contribution each year.
- In 2024, the Organization matched participant contributions up to 5% of compensation.
- Participants are immediately vested in their contributions and the Organization’s matching contributions plus actual earnings thereon.
- Vesting in the Company’s discretionary contribution portion of their accounts plus actual earnings thereon is based on years of service.
- A participant is 100 percent vested after five years of credited service.
- Participants become fully vested under the Plan by attaining early or normal retirement age, permanent disability, death, or termination of the Plan.
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:
| 2024 | 2025 | |
|---|---|---|
| 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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