HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN Contribution & Employer Match

How HANFORD PENSION AND SAVINGS PLANS COMMITTEE Supports Your Retirement Savings

HANFORD PENSION AND SAVINGS PLANS COMMITTEE provides retirement savings benefits through HANFORD GUARDS UNION LOCAL 21 SAVINGS 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.

HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN is $154,543.00

HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN is $3,916.00. 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.
250,681.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,916.00 in HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in HANFORD GUARDS UNION LOCAL 21 SAVINGS 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.

HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN Total Employer Contribution and Match Rate

In 2024, HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN allocates $870,865.00 to match its employees’ contributions, providing an employer match rate of 64.54% of their contributions

HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN is approximately $2,467.00
Investing in this additonal $2,467.00 for 20 years would give you extra $157,890.00, 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.

HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute their base earnings on a pre-tax basis, post-tax basis, or a combination thereof, but the specific percentage is not stated.

2. Employer Match/Contribution Conditions: The employer matches 100% of contribution up to 3% of compensation plus 50% of contributions in excess of 3% of compensation, not to exceed 5% of compensation of the contribution made to the Plan by the participant.

3. Vesting Schedule/Eligibility: Participants are immediately 100% vested in contributions, employer contributions, and earnings thereon. Eligibility requires employment within the collective bargaining unit represented by the Hanford Guards Union, Local 21 from the first day of each pay period.

4. Roth 401(k) Contribution: The plan allows participants to contribute on a post-tax basis, implying it allows for Roth 401(k) contributions.

HANFORD GUARDS UNION LOCAL 21 SAVINGS PLAN Maximum Match Calculator

This calculator helps to decide what’s the minimum contribution you have to maximize your employer match.










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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