GENPAK LLC HOURLY PAID PENSION PLAN Contribution & Employer Match

How GENPAK LLC Supports Your Retirement Savings

GENPAK LLC provides retirement savings benefits through GENPAK LLC HOURLY PAID PENSION 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.

GENPAK LLC HOURLY PAID PENSION PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for GENPAK LLC HOURLY PAID PENSION PLAN is $18,542.00

GENPAK LLC HOURLY PAID PENSION PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for GENPAK LLC HOURLY PAID PENSION PLAN is $312.00. 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.
20,011.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 312.00 in GENPAK LLC HOURLY PAID PENSION PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in GENPAK LLC HOURLY PAID PENSION 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.

GENPAK LLC HOURLY PAID PENSION PLAN Total Employer Contribution and Match Rate

In 2024, GENPAK LLC HOURLY PAID PENSION PLAN allocates $72,615.00 to match its employees’ contributions, providing an employer match rate of 149.35% of their contributions

GENPAK LLC HOURLY PAID PENSION PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in GENPAK LLC HOURLY PAID PENSION PLAN is approximately $533.00
Investing in this additonal $533.00 for 20 years would give you extra $34,171.00, 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.

GENPAK LLC HOURLY PAID PENSION PLAN Contribution & Match Policy

GENPAK LLC HOURLY PAID PENSION PLAN Plan Policies

GENPAK LLC HOURLY PAID PENSION PLAN Contribution, Match and Other Plan Policies

  • Participants may contribute after-tax contributions up to 10% of eligible compensation, as defined in the Plan.
  • Salary deferral agreements shall be made, terminated, or changed according to procedures and limitations set up by the Plan Administrator and the Plan Document.
  • Participants may also contribute amounts representing distributions from other qualified plans (rollover contributions).
  • The Company contributes $0.55 for each hour worked by an employee who is a member of the Ohio Union.
  • The Company provides contributions to the Middletown Union employees according to their years of service, as outlined below: Service Rate: 61 days up to 4 years of service – $0.55 per hour 5 years up to 14 years of service – $0.65 per hour 15 years and above – $0.75 per hour
  • Participants are 100% vested in their after-tax and rollover contributions and the allocated earnings thereon.
  • Employer contributions are subject to the following vesting schedule below: Vesting Years of Service Percentage (%): 1 – 20% 2 – 40% 3 – 60% 4 – 80% 5 or more – 100% Participants become fully vested in the event of retirement, death, or disability, as defined by the Plan.
  • Due to the plant closures described above, all participants effected by the closures became fully vested.

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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