ELEVATE CREDIT, INC. 401(K) PLAN Contribution & Employer Match

How ELEVATE CREDIT SERVICE, LLC Supports Your Retirement Savings

ELEVATE CREDIT SERVICE, LLC provides retirement savings benefits through ELEVATE CREDIT, INC. 401(K) 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.

ELEVATE CREDIT, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for ELEVATE CREDIT, INC. 401(K) PLAN is $122,542.00

ELEVATE CREDIT, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for ELEVATE CREDIT, INC. 401(K) PLAN is $6,261.00. 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.
400,727.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,261.00 in ELEVATE CREDIT, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in ELEVATE CREDIT, INC. 401(K) 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.

ELEVATE CREDIT, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, ELEVATE CREDIT, INC. 401(K) PLAN allocates $2,172,070.00 to match its employees’ contributions, providing an employer match rate of 59.60% of their contributions

ELEVATE CREDIT, INC. 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in ELEVATE CREDIT, INC. 401(K) PLAN is approximately $4,059.00
Investing in this additonal $4,059.00 for 20 years would give you extra $259,836.00, 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.

ELEVATE CREDIT, INC. 401(K) PLAN Contribution & Match Policy

ELEVATE CREDIT, INC. 401(K) PLAN Plan Policies

ELEVATE CREDIT, INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Participants may contribute 1% to 70% of their eligible annual compensation, subject to certain limitations ($23,000 limit for 2024 for pre-tax and Roth deferral contributions).
  • Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions ($7,500 limit for 2024).
  • All Participants that have satisfied the Plan’s eligibility and entry date requirements may elect to contribute a portion of their eligible compensation on an after-tax basis, which cannot exceed the 70% limit when combined with any deferral contributions.
  • These after-tax contributions are subject to special Internal Revenue Code rules.
  • Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans.
  • The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan.
  • Participants automatically enrolled have their deferral rate set at 5% of eligible compensation and their contributions invested in a designated balanced fund until they are changed by the participants.
  • The Employer provides safe harbor matching contributions equal to 100% of each participant’s elective deferral not to exceed 5% of the participant’s eligible annual compensation.
  • Participants are 100% vested in their elective deferrals, after-tax contributions, rollovers, and employer matching contributions immediately. Any employer contributions made for discretionary profit sharing or QNEC vest according to the following 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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