FINKL STEEL SAVINGS PLAN Contribution & Employer Match

How A. FINKL & SONS CO. Supports Your Retirement Savings

A. FINKL & SONS CO. provides retirement savings benefits through FINKL STEEL 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.

FINKL STEEL SAVINGS PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for FINKL STEEL SAVINGS PLAN is $107,964.00

FINKL STEEL SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for FINKL STEEL SAVINGS PLAN is $4,698.00. 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.
300,735.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,698.00 in FINKL STEEL SAVINGS PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in FINKL STEEL 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.

FINKL STEEL SAVINGS PLAN Total Employer Contribution and Match Rate

In 2024, FINKL STEEL SAVINGS PLAN allocates $1,830,988.00 to match its employees’ contributions, providing an employer match rate of 93.55% of their contributions

FINKL STEEL SAVINGS PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in FINKL STEEL SAVINGS PLAN is approximately $4,487.00
Investing in this additonal $4,487.00 for 20 years would give you extra $287,213.00, 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.

FINKL STEEL SAVINGS PLAN Contribution & Match Policy

FINKL STEEL SAVINGS PLAN Plan Policies

FINKL STEEL SAVINGS PLAN Contribution, Match and Other Plan Policies

  • The Plan provides for employee salary 401(k) deferral contributions up to a maximum of 100 percent of their pretax annual compensation subject to maximum tax-deferred limitations established by the Internal Revenue Code (IRC).
  • Effective April 1, 2024, the Plan was amended to also allow Roth elective deferral contributions.
  • Participants who have attained age 50 before the end of the year are also allowed to make catch-up contributions.
  • Nonunion participants: Matching contribution of 100 percent of a participant’s first 5 percent of contributions up to 2.5 percent of the employee’s eligible compensation, as defined by the Plan.
  • IBBB and IAM union participants: Matching contribution of 50 percent of a participant’s first 5 percent of contributions.
  • IBEW union participants: Matching contribution of 50 percent of a participant’s first 6 percent of contributions.
  • Vesting schedule: 1 year: 20% 2 years: 40% 3 years: 60% 4 years: 80% 5 years: 100% Participants are immediately vested in their contributions and the Company’s historical safe harbor contributions plus actual earnings thereon.
  • Union employees hired prior to February 1, 2017 are immediately vested in all contributions.
  • Participants also become fully vested in the company discretionary and additional contributions upon normal retirement age, death, or 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:

 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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