HORNWOOD RETIREMENT PLAN Contribution & Employer Match
How HORNWOOD, INC. Supports Your Retirement Savings
HORNWOOD, INC. provides retirement savings benefits through HORNWOOD RETIREMENT 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.
HORNWOOD RETIREMENT PLAN Average Participant Retirement Account Value
HORNWOOD RETIREMENT PLAN Estimated Average Employee Contribution Amount
63,299.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 989.00 in HORNWOOD RETIREMENT PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in HORNWOOD RETIREMENT 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.
HORNWOOD RETIREMENT PLAN Total Employer Contribution and Match Rate
HORNWOOD RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $213.00 for 20 years would give you extra $13,656.00, 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.
HORNWOOD RETIREMENT PLAN Contribution & Match Policy
HORNWOOD RETIREMENT PLAN Contribution, Match and Other Plan Policies
- Each employee who is eligible and wishes to participate in the Plan executes a salary reduction agreement to withhold a percentage of his or her compensation.
- Participants may also contribute amounts representing distributions from other qualified defined benefit or contribution plans (rollovers).
- The Company may make matching contributions equal to a discretionary percentage of salary deferrals as determined each year, limited to 6% of eligible compensation.
- For the years ended December 31, 2024 and 2023, the Company’s matching contribution was 25% of the first 6% of contributions.
- Participants are immediately vested in their salary reduction contributions and discretionary profit sharing contributions plus actual earnings thereon. Vesting in the employer matching contribution portion of their accounts plus actual earnings thereon is based on years of continuous service according to the following schedule: Number of Years Vested of Service
- Less than 2 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:
| 2024 | 2025 | |
|---|---|---|
| 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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