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

How GOODE COOK, INC. Supports Your Retirement Savings

GOODE COOK, INC. provides retirement savings benefits through GOODE COOK, 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.

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

In 2024, the average participant retirement account value for GOODE COOK, INC. 401(K) PROFIT SHARING PLAN is $10,047.00

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

In 2024, the estimated average employee contribution amount per participant for GOODE COOK, INC. 401(K) PROFIT SHARING PLAN is $639.00. 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.
40,904.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 639.00 in GOODE COOK, INC. 401(K) PROFIT SHARING PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in GOODE COOK, 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.

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

In 2024, GOODE COOK, INC. 401(K) PROFIT SHARING PLAN allocates $290,211.00 to match its employees’ contributions, providing an employer match rate of 62.80% of their contributions

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

In 2024, the estimated average employer match for an employee in GOODE COOK, INC. 401(K) PROFIT SHARING PLAN is approximately $337.00
Investing in this additonal $337.00 for 20 years would give you extra $21,597.00, 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.

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

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

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

  • Participants may elect to defer up to 90% of their compensation during any plan year, subject to a maximum imposed by the Internal Revenue Code (IRC).
  • The Plan allows participants the option to defer on both a pre-tax and on a Roth basis.
  • Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
  • Beginning January 1, 2024, the Company amended the Plan to allow safe harbor employer matching contributions equal to 100% of the amount contributed by each participant up to 3% of compensation and 50% of the amount contributed on the next 2% of compensation.
  • Vesting schedule for employer discretionary matching or nonelective contributions made between May 2020 and after January 1, 2024:
  • Less than 2 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:

 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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