HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN Contribution & Employer Match

How HONORHEALTH Supports Your Retirement Savings

HONORHEALTH provides retirement savings benefits through HONOR HEALTH 403(B) RETIREMENT SECURITY 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.

HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN is $58,716.00

HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN is $7,477.00. 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.
478,542.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,477.00 in HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in HONOR HEALTH 403(B) RETIREMENT SECURITY 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.

HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN Total Employer Contribution and Match Rate

In 2024, HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN allocates $36,888,949.00 to match its employees’ contributions, providing an employer match rate of 49.98% of their contributions

HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN is approximately $1,868.00
Investing in this additonal $1,868.00 for 20 years would give you extra $119,581.00, 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.

HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN Contribution & Match Policy

HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN Plan Policies

HONOR HEALTH 403(B) RETIREMENT SECURITY PLAN Contribution, Match and Other Plan Policies

  • Eligible employees, as defined in the plan agreement, may contribute from 2% to 50% of eligible annual pretax compensation, subject to certain limits.
  • New employees shall be deemed to have elected to make a pretax deferral to the Plan in the amount of 2% of their compensation to the default Target Date Retirement Fund closest to their normal retirement age of 65.
  • Participants are allowed to make an additional pretax deferral of at least 1%, but not more than 100% of their bonus compensation.
  • Participants who have attained age 50 before the end of the year are eligible to make catch-up contributions.
  • The discretionary employer matching contribution to the Plan is equal to 100% of each eligible participant’s elective deferrals to the 403(b) Plan, up to 4% of the eligible participant’s eligible compensation.
  • New participants hired January 1, 2022, or thereafter will be 100% vested in matching contributions after 3 years of service.
  • Participants hired prior to January 1, 2022, will be 100% vested in current and future matching contributions.
  • Participant contributions and related plan earnings are 100% vested as defined by the plan agreement.

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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