FOLEY & MANSFIELD PROFIT SHARING PLAN Contribution & Employer Match

How FOLEY & MANSFIELD, PLLP Supports Your Retirement Savings

FOLEY & MANSFIELD, PLLP provides retirement savings benefits through FOLEY & MANSFIELD PROFIT SHARING 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.

FOLEY & MANSFIELD PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for FOLEY & MANSFIELD PROFIT SHARING PLAN is $157,951.00

FOLEY & MANSFIELD PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for FOLEY & MANSFIELD PROFIT SHARING PLAN is $4,835.00. 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.
309,489.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,835.00 in FOLEY & MANSFIELD PROFIT SHARING PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in FOLEY & MANSFIELD PROFIT SHARING 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.

FOLEY & MANSFIELD PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2024, FOLEY & MANSFIELD PROFIT SHARING PLAN allocates $913,074.00 to match its employees’ contributions, providing an employer match rate of 38.22% of their contributions

FOLEY & MANSFIELD PROFIT SHARING PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in FOLEY & MANSFIELD PROFIT SHARING PLAN is approximately $1,951.00
Investing in this additonal $1,951.00 for 20 years would give you extra $124,864.00, 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.

FOLEY & MANSFIELD PROFIT SHARING PLAN Contribution & Match Policy

FOLEY & MANSFIELD PROFIT SHARING PLAN Plan Policies

FOLEY & MANSFIELD PROFIT SHARING PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute a percentage of pretax annual compensation, as defined in the plan document, up to the maximum limits of the Internal Revenue Code (IRC).
  • Participants also may designate all or a portion of their deferral contributions as after-tax contributions into a Roth account.
  • Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
  • The Plan includes an automatic 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 3% of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant.
  • Automatically enrolled participants will have their deferral rate increase by 1% every January until their deferral rate reaches 10%.
  • The Company makes a safe harbor contribution to each participant’s account equal to 3% of eligible compensation.
  • Participants are vested immediately in their contributions and Company safe harbor contributions, plus actual earnings thereon.
  • Participants who leave the Plan because of death, early or normal retirement or disability retirement, as defined in the Plan, are considered 100% vested.
  • Vesting in the Company’s discretionary contribution portion of their accounts is based on years of continuous service.
  • A participant is 0% vested with less than two years of credited service and then vests in increments of 20% until 100% vested after six years of credited service.
  • A year of service is defined as a consecutive twelve-month period in which the participant is credited with 1,000 hours of service.

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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