FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN Contribution & Employer Match

How FREEDOMPAY, INC. Supports Your Retirement Savings

FREEDOMPAY, INC. provides retirement savings benefits through FREEDOMPAY, INC. 401(K) 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.

FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN is $53,858.00

FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN is $11,511.00. 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.
736,745.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 11,511.00 in FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in FREEDOMPAY, INC. 401(K) 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.

FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2024, FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN allocates $787,876.00 to match its employees’ contributions, providing an employer match rate of 18.35% of their contributions

FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN is approximately $1,538.00
Investing in this additonal $1,538.00 for 20 years would give you extra $98,484.00, 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.

FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN Contribution & Match Policy

FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN Plan Policies

FREEDOMPAY, INC. 401(K) PROFIT SHARING PLAN Contribution, Match and Other Plan Policies

  • Eligible employees have the option to contribute pre-tax and Roth 401(k) contributions.
  • A participant may authorize the Company to withhold up to 90% of his or her eligible compensation, not to exceed the annual limit established by the IRC.
  • The Plan allows participants who have attained age 50 before the end of the Plan year to make catch-up contributions, which are also eligible for employer match contributions.
  • Each pay period, the Company may make a discretionary employer match contribution in an amount to be determined by the Company.
  • The Company made employer match contributions totaling $787,876 for the year ended December 31, 2024.
  • A participant is 100% vested upon death, disability, retirement or after three years of credited service, which is earned 33% in both years one and two, and 34% in year three.

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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