HP HOOD LLC RETIREMENT SAVINGS PLAN Contribution & Employer Match
How HP HOOD LLC Supports Your Retirement Savings
HP HOOD LLC provides retirement savings benefits through HP HOOD LLC 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.
HP HOOD LLC RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value
HP HOOD LLC RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount
386,845.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,044.00 in HP HOOD LLC RETIREMENT SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in HP HOOD LLC 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.
HP HOOD LLC RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate
HP HOOD LLC RETIREMENT SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $2,583.00 for 20 years would give you extra $165,357.00, 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.
HP HOOD LLC RETIREMENT SAVINGS PLAN Contribution & Match Policy
HP HOOD LLC RETIREMENT SAVINGS PLAN Contribution, Match and Other Plan Policies
- Participants in the Plan may elect to contribute on a pre-tax or post-tax basis, a percentage of their eligible compensation, as defined in the Plan Document, subject to the maximum allowable limits established by the applicable sections of the IRC.
- For the 2024 plan year, the maximum 401(k) contribution limit is $23,000.
- Participants age 50 and over by the end of the plan year are eligible to make additional catch-up contributions up to $7,500.
- The Plan offers a Roth 401(k) option, in which participants may make all or part of their contributions to the Plan on a post-tax basis.
- Post-tax contributions may be made in an amount up to the lower of 75% of a participant’s pay, or the annual Internal Revenue Service (IRS) limit.
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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