ESSENTIA HEALTH RETIREMENT PLAN Contribution & Employer Match

How ESSENTIA HEALTH Supports Your Retirement Savings

ESSENTIA HEALTH provides retirement savings benefits through ESSENTIA HEALTH 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.

ESSENTIA HEALTH RETIREMENT PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for ESSENTIA HEALTH RETIREMENT PLAN is $108,429.00

ESSENTIA HEALTH RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for ESSENTIA HEALTH RETIREMENT PLAN is $5,478.00. 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.
350,602.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,478.00 in ESSENTIA HEALTH RETIREMENT PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in ESSENTIA HEALTH 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.

ESSENTIA HEALTH RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2024, ESSENTIA HEALTH RETIREMENT PLAN allocates $58,260,166.00 to match its employees’ contributions, providing an employer match rate of 54.48% of their contributions

ESSENTIA HEALTH RETIREMENT PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in ESSENTIA HEALTH RETIREMENT PLAN is approximately $2,886.00
Investing in this additonal $2,886.00 for 20 years would give you extra $184,723.00, 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.

ESSENTIA HEALTH RETIREMENT PLAN Contribution & Match Policy

ESSENTIA HEALTH RETIREMENT PLAN Plan Policies

ESSENTIA HEALTH RETIREMENT PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute annual compensation as defined in the Plan, up to the maximum amount allowed by the Internal Revenue Code (IRC).
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • The Plan allows participants to designate contributions as Roth contributions.
  • 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.
  • Automatically enrolled participants have their deferral rate set at 4% of eligible compensation unless otherwise elected by the participant and their contributions invested in a designated target retirement fund until changed by the participant.
  • The default withholding rate under the auto-enrollment provision will increase 1% annually up to a maximum of 10% unless otherwise elected by the participant.
  • The Plan Sponsor makes matching contributions equal to 50% of the first 4% of eligible compensation that a participant contributes to the Plan.
  • The Plan Sponsor also makes nonelective contributions whereby the percentage allocated to the participants is determined annually at the discretion of the Plan Sponsor.
  • The Plan Sponsor made a discretionary contribution in 2024 equal to 3% of eligible compensation for non-union employees and 5% for union employees.
  • Participants are vested immediately in their contributions and Plan Sponsor matching contributions plus actual earnings thereon.
  • Vesting in the Plan Sponsor nonelective contribution portion of their account plus actual earnings thereon varies by employment classification and/or entry date and is based on years of credited service.
  • Participants are 100% vested upon total disability, death, or attainment of age 55 during the term of employment, or termination of the Plan.

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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