COLT RETIREMENT SAVINGS PLAN Contribution & Employer Match
How COLT’S MANUFACTURING COMPANY, LLC Supports Your Retirement Savings
COLT’S MANUFACTURING COMPANY, LLC provides retirement savings benefits through COLT RETIREMENT SAVINGS 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.
COLT RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value
COLT RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount
358,959.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,608.00 in COLT RETIREMENT SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in COLT RETIREMENT SAVINGS 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.
COLT RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate
COLT RETIREMENT SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $2,764.00 for 20 years would give you extra $176,929.00, 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.
COLT RETIREMENT SAVINGS PLAN Contribution & Match Policy
COLT RETIREMENT SAVINGS PLAN Contribution, Match and Other Plan Policies
- Each year, participants may contribute a percentage of their annual compensation as defined in the Plan.
- In accordance with the Internal Revenue Code, participant contributions cannot exceed $23,000 and $22,500 for the years ended December 31, 2024 and 2023, respectively, with the exception of certain allowable catch-up contributions up to $7,500 in 2024 and 2023 for participants over the age of 50.
- Effective February 1, 2009, the Plan was amended to allow for a discretionary employer matching contribution for participants (excluding Bargaining Unit employees, see below) of 50% of the participants’ elective deferral up to the first 6% of eligible compensation, as defined by the Plan.
- Effective January 1, 2023, the Company amended the Plan to allow for Roth elective deferrals and increased the discretionary employer matching contribution to 100% of the participants’ elective deferral up to the first 6% of eligible compensation, as defined by the Plan.
- In connection with the renewal of the Company’s collective bargaining agreement in 2012, the Company elected to freeze future benefit accruals under the Company’s Bargaining Unit Employees’ Pension Plan (the Pension Plan) effective December 31, 2012.
- In conjunction with freezing the Pension Plan, Bargaining Unit employees hired after April 1, 2012, became eligible for an employer matching contribution in the Plan in the amount of 100% of the participants’ elective deferral up to the first 3% of eligible compensation, as defined by the Plan, as they were not able to become participants in the Pension Plan.
- All other Bargaining Unit employees became eligible for the employer match (100% of the participants’ elective deferral up to the first 3% of eligible compensation) in the Plan effective January 1, 2013.
- Vesting schedule: 1 year: 20% 2 years: 40% 3 years: 60% 4 years: 80% 5 years: 100% Participants are immediately vested in their voluntary contributions plus actual earnings thereon.
- Participants who are eligible to participate in the Plan as of January 1, 2009, will be 100% vested in all Company discretionary matching contributions and earnings thereon.
- Participants who become eligible to participate in the Plan after January 1, 2009, vest in Company discretionary matching contributions and earnings thereon based on years of continuous service as follows:
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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