CHARDAM GEAR COMPANY, INC. 401(K) PLAN Contribution & Employer Match

How CHARDAM GEAR COMPANY, INC. Supports Your Retirement Savings

CHARDAM GEAR COMPANY, INC. provides retirement savings benefits through CHARDAM GEAR COMPANY, INC. 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.

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for CHARDAM GEAR COMPANY, INC. 401(K) PLAN is $78,341.00

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for CHARDAM GEAR COMPANY, INC. 401(K) PLAN is $4,410.00. 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.
282,302.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,410.00 in CHARDAM GEAR COMPANY, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in CHARDAM GEAR COMPANY, INC. 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.

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, CHARDAM GEAR COMPANY, INC. 401(K) PLAN allocates $317,024.00 to match its employees’ contributions, providing an employer match rate of 46.52% of their contributions

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in CHARDAM GEAR COMPANY, INC. 401(K) PLAN is approximately $2,099.00
Investing in this additonal $2,099.00 for 20 years would give you extra $134,367.00, 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.

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Contribution & Match Policy

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Plan Policies

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute up to 100% of their pre-tax annual compensation, as defined in the plan document, through payroll withholdings.
  • The Plan also allows participants to make after-tax Roth contributions.
  • Participants who have attained age 50 before the end of the year are eligible to make ‘catch-up’ contributions.
  • The Plan contains a safe harbor matching contribution provision whereby the employer contributes an amount equal to 100% of the first 3% of the participant’s elective deferrals plus an additional 50% of elective deferrals to the extent they do not exceed 5%.
  • Participants are immediately vested in their contributions (deferrals and rollovers), any safe harbor employer contributions and earnings thereon.
  • Employer discretionary profit-sharing contributions are subject to a cliff vesting schedule based on years of service.
  • A participant is 100% vested after three years of credited service.
  • Participants also become 100% vested upon death or 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:

 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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