GLENN O. HAWBAKER, INC. BENEFIT PLAN Contribution & Employer Match
How GLENN O. HAWBAKER, INC. Supports Your Retirement Savings
GLENN O. HAWBAKER, INC. provides retirement savings benefits through GLENN O. HAWBAKER, INC. BENEFIT 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.
GLENN O. HAWBAKER, INC. BENEFIT PLAN Average Participant Retirement Account Value
GLENN O. HAWBAKER, INC. BENEFIT PLAN Estimated Average Employee Contribution Amount
249,878.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,904.00 in GLENN O. HAWBAKER, INC. BENEFIT PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in GLENN O. HAWBAKER, INC. BENEFIT 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.
GLENN O. HAWBAKER, INC. BENEFIT PLAN Total Employer Contribution and Match Rate
GLENN O. HAWBAKER, INC. BENEFIT PLAN Estimated Average Employer Match
Investing in this additonal $6,736.00 for 20 years would give you extra $431,125.00, 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.
GLENN O. HAWBAKER, INC. BENEFIT PLAN Contribution & Match Policy
GLENN O. HAWBAKER, INC. BENEFIT PLAN Contribution, Match and Other Plan Policies
- Each year, participants may contribute up to 100% of pretax annual compensation, as defined by the Plan up to the maximum limits of the Internal Revenue Code (IRC).
- Participants may also contribute up to 100% of post-tax annual compensation as a Roth contribution, as defined by the Plan.
- Eligible employees will automatically be enrolled in the Plan.
- Their contribution will initially be set at 3% of their eligible compensation, unless the eligible employee elects a different percentage or elects to cease making deferral contributions.
- These employees will be subject to an automatic increase of 1% per year up to a maximum of 10%.
- Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
- In addition, the Company makes a matching contribution to the Plan equal to 50% of the active participant’s salary deferral, up to 5% of their salary with a maximum value of $3,000.
- Participants are immediately vested in their voluntary and Company prevailing wage rate contributions plus actual earnings thereon. Vesting in the remaining Company contributions portion of their accounts plus earnings thereon is based on years of continuous service. A participant is 100 percent vested after six years of credited service. The
- Less than 1 years: 0%
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:
| 2024 | 2025 | |
|---|---|---|
| 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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