CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN Contribution & Employer Match

How CUSHING ACADEMY Supports Your Retirement Savings

CUSHING ACADEMY provides retirement savings benefits through CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT 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.

CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN is $116,778.00

CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN is $1,578.00. 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.
101,027.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,578.00 in CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT 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.

CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2024, CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN allocates $759,010.00 to match its employees’ contributions, providing an employer match rate of 105.44% of their contributions

CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN is approximately $1,650.00
Investing in this additonal $1,650.00 for 20 years would give you extra $105,601.00, 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.

CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN Contribution & Match Policy

CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN Plan Policies

CUSHING ACADEMY DEFINED CONTRIBUTION RETIREMENT PLAN Contribution, Match and Other Plan Policies

  • Participants of the Plan may contribute up to 100% of their compensation up to the Internal Revenue Service (IRS) limitations, as defined by the Plan.
  • The elective deferral limit for 2024 was $23,000.
  • Participants who have attained age of 50 before the end of the Plan year are eligible to make catch-up contributions.
  • The maximum catch-up deferral limit participants could make in 2024 was $7,500.
  • Participants may also contribute amounts representing distributions from other qualified benefit or contribution plans, or rollovers as allowed by the Plan Administrator.
  • The Plan also allows for employees with at least 15 years of service to make an additional catch-up contribution of up to $3,500 in any calendar year.
  • The Academy may contribute a discretionary matching contribution to the Plan.
  • The Academy provides employees who contribute at least 5% of their compensation to the Plan, a discretionary matching contribution of 5% of employee compensation to those employees with 1 and 2 years of consecutive service, 7.5% of employee compensation to those employees with 3 and 4 years of consecutive service, and 10% of employee compensation to those employees with 5 or more years of consecutive service.
  • Years of consecutive service are measured on the employee’s anniversary date.
  • Participants are immediately vested for all contributions plus 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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