CARTHAGE COLLEGE DEFINED CONTRIBUTION PLAN Contribution & Employer Match
How CARTHAGE COLLEGE Supports Your Retirement Savings
CARTHAGE COLLEGE provides retirement savings benefits through CARTHAGE COLLEGE DEFINED CONTRIBUTION 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.
CARTHAGE COLLEGE DEFINED CONTRIBUTION PLAN Average Participant Retirement Account Value
CARTHAGE COLLEGE DEFINED CONTRIBUTION PLAN Estimated Average Employee Contribution Amount
114,689.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,792.00 in CARTHAGE COLLEGE DEFINED CONTRIBUTION PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in CARTHAGE COLLEGE DEFINED CONTRIBUTION 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.
CARTHAGE COLLEGE DEFINED CONTRIBUTION PLAN Total Employer Contribution and Match Rate
CARTHAGE COLLEGE DEFINED CONTRIBUTION PLAN Estimated Average Employer Match
Investing in this additonal $1,374.00 for 20 years would give you extra $87,968.00, 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.
CARTHAGE COLLEGE DEFINED CONTRIBUTION PLAN Contribution & Match Policy
CARTHAGE COLLEGE DEFINED CONTRIBUTION PLAN Contribution, Match and Other Plan Policies
- Eligible participants are permitted to elect to have a percentage, limited by Plan provisions, of their compensation contributed as pre-tax 403(b) or Roth contributions to the Plan.
- 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).
- The College may, at its discretion, elect to make a qualified nonelective contribution to the Plan equal to a percentage of each qualifying participant’s compensation based on the number of participant’s years of eligibility.
- Participants are immediately vested in their contributions plus actual earnings thereon.
- Vesting in the College’s nonelective contribution portion of their accounts is based on years of continuous service.
- Employees hired on or after June 1, 2023, are 100% vested after three credited years of service and employees hired prior to June 1, 2023 are 100% vested after two credited years of service.
- Notwithstanding the above, a participant is fully vested upon reaching normal retirement age, death, or permanent disability.
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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