ISLAND KINETICS, INC. 401(K) PLAN Contribution & Employer Match

How ISLAND KINETICS, INC. DBA COVALENCE LABORATORIES Supports Your Retirement Savings

ISLAND KINETICS, INC. DBA COVALENCE LABORATORIES provides retirement savings benefits through ISLAND KINETICS, INC. 401(K) 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.

ISLAND KINETICS, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for ISLAND KINETICS, INC. 401(K) PLAN is $29,873.00

ISLAND KINETICS, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for ISLAND KINETICS, INC. 401(K) PLAN is $2,329.00. 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.
149,117.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,329.00 in ISLAND KINETICS, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in ISLAND KINETICS, INC. 401(K) 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.

ISLAND KINETICS, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, ISLAND KINETICS, INC. 401(K) PLAN allocates $50,000.00 to match its employees’ contributions, providing an employer match rate of 10.62% of their contributions

ISLAND KINETICS, INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in ISLAND KINETICS, INC. 401(K) PLAN is approximately $231.00
Investing in this additonal $231.00 for 20 years would give you extra $14,814.00, 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.

ISLAND KINETICS, INC. 401(K) PLAN Contribution & Match Policy

1. Employee Contribution Rates: Participants may elect to defer salary in an amount not to exceed 90% of their total eligible compensation.

2. Employer Match/Contribution Conditions: The Company may elect to make a qualified matching contribution, which was $50,000 each year, allocated on a pro-rata basis. Participants must complete at least 501 hours of service during the Plan year or be employed by the Company on the last day of the Plan year to receive the discretionary employer match.

3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions and earnings. They vest in employer matching and profit sharing contributions based on a schedule: 0% vesting for less than 2 years, 20% for at least 2 but less than 3 years, 40% for at least 3 but less than 4 years, 60% for at least 4 but less than 5 years, 80% for at least 5 but less than 6 years, and 100% for at least 6 years. Eligibility for employer contributions requires completing one year of service, defined as working at least 1,000 hours in a plan year.

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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