CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES Contribution & Employer Match

How CURRENT LIGHTING EMPLOYEE CO LLC Supports Your Retirement Savings

CURRENT LIGHTING EMPLOYEE CO LLC provides retirement savings benefits through CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES. 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.

CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES Average Participant Retirement Account Value

In 2024, the average participant retirement account value for CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES is $36,101.00

CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES is $3,413.00. 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.
218,492.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,413.00 in CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES

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.

CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES Total Employer Contribution and Match Rate

In 2024, CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES allocates $381,059.00 to match its employees’ contributions, providing an employer match rate of 74.66% of their contributions

CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES is approximately $1,274.00
Investing in this additonal $1,274.00 for 20 years would give you extra $81,564.00, 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.

CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES Contribution & Match Policy

CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES Plan Policies

CURRENT RETIREMENT PLAN FOR COLLECTIVELY BARGAINED EMPLOYEES Contribution, Match and Other Plan Policies

  • Each payroll period, participants may contribute between 1% and 50% of eligible compensation (as defined by the Plan) as pre-tax, Roth, and catch-up contributions.
  • Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
  • Automatically enrolled participants have their pre-tax deferral rate set at 6% of eligible compensation on the first day of the calendar month coinciding with or next following satisfaction of eligibility requirements and their contributions are invested in a designated fund until changed by the applicable participant.
  • Each automatically enrolled participant will have his or her pre-tax deferral rate increased by 1% each September 1 until his or her deferral rate reaches 20%.
  • For the year ended December 31, 2024, the Company elected to match up to 50% of the first 6% of eligible compensation that was contributed to the Plan by each employee as any combination of pre-tax, Roth, and catch-up contributions.
  • The Plan also provides for nonelective employer contributions for eligible employees who are members of The International Union of Electronic, Electrical, Salaried, Machine and Furniture Workers and Communication Workers of America, AFL-CIO, Local 160 (Christiansburg).
  • For the year ended December 31, 2024, nonelective employer contributions were 4% of each participant’s eligible compensation each payroll period.
  • Vesting schedule:
  • Less than 1 years: 0%

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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