CLECO POWER LLC 401(K) SAVINGS & INVESTMENT PLAN Contribution & Employer Match
How CLECO POWER LLC Supports Your Retirement Savings
CLECO POWER LLC provides retirement savings benefits through CLECO POWER LLC 401(K) SAVINGS & INVESTMENT 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.
CLECO POWER LLC 401(K) SAVINGS & INVESTMENT PLAN Average Participant Retirement Account Value
CLECO POWER LLC 401(K) SAVINGS & INVESTMENT PLAN Estimated Average Employee Contribution Amount
528,214.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,253.00 in CLECO POWER LLC 401(K) SAVINGS & INVESTMENT PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in CLECO POWER LLC 401(K) SAVINGS & INVESTMENT 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.
CLECO POWER LLC 401(K) SAVINGS & INVESTMENT PLAN Total Employer Contribution and Match Rate
CLECO POWER LLC 401(K) SAVINGS & INVESTMENT PLAN Estimated Average Employer Match
Investing in this additonal $5,324.00 for 20 years would give you extra $340,751.00, 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.
CLECO POWER LLC 401(K) SAVINGS & INVESTMENT PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 50% of annual compensation, not to exceed $20,500 in 2022 and $19,500 in 2021.
2. Employer Match/Contribution Conditions: Participants hired prior to August 1, 2007, receive a basic match of 66-2/3% of their total pretax basic contribution, up to the first 6% of their annual compensation. Participants hired on or after August 1, 2007, receive a basic match of 100% of their total pretax basic contribution, up to the first 6% of their annual compensation. Additionally, all employees hired or rehired on or after August 1, 2007, are eligible for a discretionary non-elective Cleco-funded contribution.
3. Vesting Schedule/Eligibility: Participants are fully vested in their voluntary contributions, eligible rollovers, earnings, and basic match at all times. Non-elective Cleco-funded contributions are subject to vesting based on years of service (less than 2 years: 0%, 2 years: 20%, 3 years: 40%, 4 years: 60%, 5 years: 80%, 6 years or more: 100%). Participants under 6 years of service become fully vested upon reaching age 65, death, or disability.
4. Roth 401(k) Contribution: Participants may designate all or a portion of their contributions as Roth
CLECO POWER LLC 401(K) SAVINGS & INVESTMENT PLAN Maximum Match Calculator
This calculator helps to decide what's the minimum contribution you have to maximize your employer match.
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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