HME RETIREMENT SAVINGS PLAN Contribution & Employer Match

How HM ELECTRONICS, INC. Supports Your Retirement Savings

HM ELECTRONICS, INC. provides retirement savings benefits through HME RETIREMENT 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.

HME RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for HME RETIREMENT SAVINGS PLAN is $89,915.00

HME RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for HME RETIREMENT SAVINGS PLAN is $6,837.00. 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.
437,615.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,837.00 in HME RETIREMENT SAVINGS PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in HME RETIREMENT 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.

HME RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate

In 2024, HME RETIREMENT SAVINGS PLAN allocates $1,858,820.00 to match its employees’ contributions, providing an employer match rate of 30.36% of their contributions

HME RETIREMENT SAVINGS PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in HME RETIREMENT SAVINGS PLAN is approximately $1,862.00
Investing in this additonal $1,862.00 for 20 years would give you extra $119,202.00, 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.

HME RETIREMENT SAVINGS PLAN Contribution & Match Policy

HME RETIREMENT SAVINGS PLAN Plan Policies

HME RETIREMENT SAVINGS PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute a percentage of pretax annual compensation, as defined in the plan document, up to the maximum limits of the Internal Revenue Code (IRC).
  • Participants also may designate all or a portion of their deferral and Company contributions as after-tax contributions into a Roth account.
  • Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
  • Participants also may contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (rollover).
  • The Plan includes an automatic enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan.
  • Automatically enrolled participants have their deferral rate set at 3% of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant.
  • Automatically enrolled participants will have their deferral rate increase by 1% annually on August 1st until their deferral rate reaches 10%.
  • The Company makes a matching contribution equal to 50% of the first 6% of base compensation that a participant contributes to the Plan.
  • During the year ended December 31, 2024, the Company made matching contributions of $1,858,820.
  • Additional discretionary amounts may be contributed by the Company at the option of the Board of Directors.
  • For the year ended December 31, 2024, there were no discretionary contributions to the Plan.
  • Participants are vested immediately in their contributions plus actual earnings thereon.
  • Vesting in the Company’s contribution portion of their accounts is based on years of continuous service.
  • A participant is 25% vested after one year of credited service and continues to vest in increments of 25% until 100% vested after four years of credited service.
  • Vesting schedule: After 1 year of credited service: 25% After 2 years of credited service: 50% After 3 years of credited service: 75% After 4 years of credited service: 100%

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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