HMH 401(K) SAVINGS PLAN Contribution & Employer Match

How HACKENSACK MERIDIAN HEALTH Supports Your Retirement Savings

HACKENSACK MERIDIAN HEALTH provides retirement savings benefits through HMH 401(K) 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.

HMH 401(K) SAVINGS PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for HMH 401(K) SAVINGS PLAN is $43,469.00

HMH 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for HMH 401(K) SAVINGS PLAN is $5,330.00. 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.
341,127.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,330.00 in HMH 401(K) SAVINGS PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in HMH 401(K) 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.

HMH 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate

In 2024, HMH 401(K) SAVINGS PLAN allocates $144,370,602.00 to match its employees’ contributions, providing an employer match rate of 64.77% of their contributions

HMH 401(K) SAVINGS PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in HMH 401(K) SAVINGS PLAN is approximately $2,944.00
Investing in this additonal $2,944.00 for 20 years would give you extra $188,454.00, 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.

HMH 401(K) SAVINGS PLAN Contribution & Match Policy

HMH 401(K) SAVINGS PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute a minimum of 1% up to a maximum of 70% of their pretax compensation, as defined in the Plan document.
  • Participants may also designate contributions as Roth contributions.
  • The Plan provides for an automatic enrollment provision of 3% of compensation.
  • Participants who have attained the age of 50 before the end of the Plan year are eligible to make additional catch-up contributions.
  • The Network will make fixed, tiered matching contributions equal to a uniform percentage of each tier of each participant’s elective deferrals.
  • Each tier represents the amount of the participant’s applicable contributions that equals the specified percentage of the participant’s compensation as follows: (i) the first tier matching percentage is 100% of elective deferrals equal to 2%, and (ii) the second tier matching percentage is 50% of elective deferrals equal to 3%.
  • All eligible employees will receive a 1.5% nonelective contribution that is calculated and contributed annually.
  • Participants are fully and immediately vested in their own contributions, rollover contributions and actual earnings thereon.
  • Participants become fully vested in the Network’s matching and nonelective contributions after three years of service.
  • Notwithstanding the above vesting for the Network’s matching and nonelective contribution, a participant will become 100% vested in these accounts upon their attainment of normal retirement age (65), early retirement age (55 with 10 years of service), death or disability while an employee, as defined in the Plan document.

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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