GALLAGHER SHARP 401(K) PLAN Contribution & Employer Match

How GALLAGHER SHARP Supports Your Retirement Savings

GALLAGHER SHARP provides retirement savings benefits through GALLAGHER SHARP 401(K) 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.

GALLAGHER SHARP 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for GALLAGHER SHARP 401(K) PLAN is $210,222.00

GALLAGHER SHARP 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for GALLAGHER SHARP 401(K) PLAN is $4,817.00. 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.
308,348.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,817.00 in GALLAGHER SHARP 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in GALLAGHER SHARP 401(K) 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.

GALLAGHER SHARP 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, GALLAGHER SHARP 401(K) PLAN allocates $406,461.00 to match its employees’ contributions, providing an employer match rate of 54.78% of their contributions

GALLAGHER SHARP 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in GALLAGHER SHARP 401(K) PLAN is approximately $2,478.00
Investing in this additonal $2,478.00 for 20 years would give you extra $158,618.00, 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.

GALLAGHER SHARP 401(K) PLAN Contribution & Match Policy

GALLAGHER SHARP 401(K) PLAN Plan Policies

GALLAGHER SHARP 401(K) PLAN Contribution, Match and Other Plan Policies

  • Participants may make pre-tax or Roth contributions in any amount from 1% up to 100% of their eligible compensation as defined by the Plan, subject to certain limits imposed by the Internal Revenue Service (IRS).
  • The Plan also provides that participants who are projected to be age 50 or older by the end of the calendar year and who are making deferral contributions to the Plan may also make catch-up contributions, subject to certain IRS limitations.
  • The Plan provides for an Eligible Automatic Contribution Arrangement, whereby the Company will automatically withhold 6% of eligible compensation for each pay period for eligible participants unless participants elect different deferral rates or elect not to participant in the Plan.
  • The Company may make discretionary contributions as determined by the Company’s Finance Committee.
  • The Plan also includes a provision whereby the Company’s Finance Committee will determine whether to make a safe harbor contribution of 3% of employee compensation to all employees who meet eligibility requirements.
  • Participants are vested immediately in their contributions and Company safe harbor contributions plus actual earnings thereon.
  • Vesting in the Company’s discretionary contribution portions of their accounts is based on years of continuous service.
  • A participant is 100% vested after six years of credited service (0% in year one, 20% each year thereafter), or in the event of death, disability, or attaining early retirement age or normal retirement age as defined by 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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