FERCHE MILLWORK, INC. SAVINGS PLAN Contribution & Employer Match
How FERCHE MILLWORK, INC. Supports Your Retirement Savings
FERCHE MILLWORK, INC. provides retirement savings benefits through FERCHE MILLWORK, INC. 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.
FERCHE MILLWORK, INC. SAVINGS PLAN Average Participant Retirement Account Value
FERCHE MILLWORK, INC. SAVINGS PLAN Estimated Average Employee Contribution Amount
290,039.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,531.00 in FERCHE MILLWORK, INC. SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in FERCHE MILLWORK, INC. 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.
FERCHE MILLWORK, INC. SAVINGS PLAN Total Employer Contribution and Match Rate
FERCHE MILLWORK, INC. SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $1,076.00 for 20 years would give you extra $68,871.00, 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.
FERCHE MILLWORK, INC. SAVINGS PLAN Contribution & Match Policy
FERCHE MILLWORK, INC. SAVINGS PLAN Contribution, Match and Other Plan Policies
- Eligible participants are permitted to elect to have a percentage, limited by Plan provisions, of their compensation contributed as pre-tax 401(k) or after-tax Roth contributions to the Plan.
- The Plan includes a qualified automatic contribution arrangement (QACA) 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 3% of eligible compensation, and their contributions invested in the designated default fund until changed by the participant.
- Those participants who are automatically enrolled will automatically have their deferral percentage increased by 1% annually beginning on January 1 of the third year until the participant’s salary reductions reaches 10%, unless the participant elects to opt out.
- Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
- The Employer has elected to contribute QACA safe harbor matching contributions to each eligible participant in an amount equal to 100% of each participant’s elective deferrals not exceeding 1% of the participant’s eligible compensation, plus 50% of each participant’s elective deferrals in excess of 1% but not in excess of 6% of the participant’s eligible compensation for a total of 3.5%.
- The Employer may, at its discretion, elect to make additional matching or nonelective contributions to the Plan.
- There were no additional matching or nonelective contributions authorized for the year ended December 31, 2024.
- Participants are immediately vested in their deferral contributions plus actual earnings thereon.
- Vesting in the QACA safe harbor, Employer additional matching and Employer nonelective portion of their accounts, plus actual earnings thereon, is based on years of credited service.
- A participant is 100% vested in their Employer QACA safe harbor matching contribution and Employer additional matching contribution portions of their account after the completion of two years of credited service using a cliff vesting schedule.
- Vesting in the Employer nonelective contribution portion of their accounts, plus actual earnings thereon, is based on years of credited service.
- A participant is 100% vested after the completion of six years of credited service.
- Notwithstanding the above, a participant is fully vested upon reaching normal retirement age, death, or permanent disability.
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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