GIBRALTAR 401(K) PLAN Contribution & Employer Match

How GIBRALTAR STEEL CORPORATION OF NEW YORK Supports Your Retirement Savings

GIBRALTAR STEEL CORPORATION OF NEW YORK provides retirement savings benefits through GIBRALTAR 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.

GIBRALTAR 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for GIBRALTAR 401(K) PLAN is $64,469.00

GIBRALTAR 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for GIBRALTAR 401(K) PLAN is $3,830.00. 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.
245,167.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,830.00 in GIBRALTAR 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in GIBRALTAR 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.

GIBRALTAR 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, GIBRALTAR 401(K) PLAN allocates $4,831,045.00 to match its employees’ contributions, providing an employer match rate of 48.59% of their contributions

GIBRALTAR 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in GIBRALTAR 401(K) PLAN is approximately $1,776.00
Investing in this additonal $1,776.00 for 20 years would give you extra $113,713.00, 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.

GIBRALTAR 401(K) PLAN Contribution & Match Policy

GIBRALTAR 401(K) PLAN Plan Policies

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

  • Participants may contribute up to 100% of their annual compensation, not to exceed the ceiling imposed by the Internal Revenue Service of $23,000 and $22,500 for 2024 and 2023, respectively, as prescribed by the Plan Document.
  • If a participant is age 50 or over, the ceiling is increased to $30,500 and $30,000 for 2024 and 2023, respectively.
  • The Plan provides an Automatic Enrollment feature for employees who do not affirmatively make an elective deferral after six months of employment to the Plan, to automatically have three percent (3%) pre-tax deferral withheld each pay period and contributed to the Plan’s Qualified Default Investment Alternative (QDIA) until changed by the participant.
  • The Plan accepts participant-directed Roth Elective Deferrals, Roth Rollovers, Roth In-Plan Conversions, Pre-Tax Deferrals and Pre-Tax Rollovers.
  • The Company matches contributions to the Plan equal to 100% of the first 3% of the participants’ elective deferrals and 50% of the following 2% of the participants’ elective deferrals at the time of salary reduction.
  • The Company match for employees subject to a collective bargaining agreement follows the terms of their respective agreement.
  • Salary reduction contributions and the earnings thereon are at all times fully vested and non-forfeitable.
  • All active participants are 100% vested in employer contributions.

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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