HICKORY SPRINGS EMPLOYEES 401(K) PLAN Contribution & Employer Match

How HICKORY SPRINGS MANUFACTURING COMPANY Supports Your Retirement Savings

HICKORY SPRINGS MANUFACTURING COMPANY provides retirement savings benefits through HICKORY SPRINGS EMPLOYEES 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.

HICKORY SPRINGS EMPLOYEES 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for HICKORY SPRINGS EMPLOYEES 401(K) PLAN is $32,301.00

HICKORY SPRINGS EMPLOYEES 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for HICKORY SPRINGS EMPLOYEES 401(K) PLAN is $1,489.00. 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.
95,345.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,489.00 in HICKORY SPRINGS EMPLOYEES 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in HICKORY SPRINGS EMPLOYEES 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.

HICKORY SPRINGS EMPLOYEES 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, HICKORY SPRINGS EMPLOYEES 401(K) PLAN allocates $1,730,429.00 to match its employees’ contributions, providing an employer match rate of 46.87% of their contributions

HICKORY SPRINGS EMPLOYEES 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in HICKORY SPRINGS EMPLOYEES 401(K) PLAN is approximately $744.00
Investing in this additonal $744.00 for 20 years would give you extra $47,653.00, 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.

HICKORY SPRINGS EMPLOYEES 401(K) PLAN Contribution & Match Policy

HICKORY SPRINGS EMPLOYEES 401(K) PLAN Plan Policies

HICKORY SPRINGS EMPLOYEES 401(K) PLAN Contribution, Match and Other Plan Policies

  • Participants are eligible to contribute between 1% and 75% of their pre-tax or after-tax annual compensation, as defined by the Plan, subject to Internal Revenue Code ("IRC") limitations.
  • Participants eligible for catch-up contributions are eligible to contribute up to 100% of their pre-tax or after-tax annual compensation.
  • Participants who have attained age 50 and are contributing the maximum allowable contributions before the end of the Plan year are eligible to make catch-up contributions.
  • Participants also make Roth after-tax contributions and may contribute amounts representing distributions from other qualified defined benefit or defined contribution plans.
  • The Company makes safe harbor matching contributions equal to 100% of the first 3% of base compensation that a participant contributed to the Plan and 50% of a participant’s contributions in excess of 3%, but not greater than 5% of a participant’s compensation.
  • Vesting schedule: Years of Service:
  • 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:

 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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