COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT Contribution & Employer Match

How COLGATE UNIVERSITY Supports Your Retirement Savings

COLGATE UNIVERSITY provides retirement savings benefits through COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT. 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.

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT Average Participant Retirement Account Value

In 2024, the average participant retirement account value for COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT is $213,933.00

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT is $3,066.00. 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.
196,253.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,066.00 in COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT

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.

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT Total Employer Contribution and Match Rate

In 2024, COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT allocates $9,707,633.00 to match its employees’ contributions, providing an employer match rate of 121.83% of their contributions

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT is approximately $3,657.00
Investing in this additonal $3,657.00 for 20 years would give you extra $234,095.00, 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.

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT Contribution & Match Policy

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT Plan Policies

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT Contribution, Match and Other Plan Policies

  • Active participants may make voluntary contributions in the form of salary reductions and any applicable rollovers from other qualified plans, subject to certain limitations of the Plan and the Internal Revenue Code (the Code) under Section 403(b).
  • Eligible participants, who attain the age of 50 before the end of the Plan year, are eligible to make catch-up contributions, subject to certain limitations of the Code.
  • Additionally, the University will match the participant’s contributions as follows: Employee’s contribution | University’s contribution 1% | 1.5% of annual compensation 2% | 3.0% of annual compensation 3% | 3.5% of annual compensation 4% or more | 4.0% of annual compensation For participants covered by the Local 200United, SEIU-Facilities collective bargaining agreement, the University will make matching contributions equal to 8% of the participant’s eligible compensation, if the participant contributes 2%.
  • If a participant is over the age of 52 and contributes 3%, the University will make matching contributions equal to 10% of the participant’s eligible compensation.
  • Participants are immediately vested in their account balance, which includes voluntary contributions, University contributions and actual 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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