MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN Contribution & Employer Match

How MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. Supports Your Retirement Savings

MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. provides retirement savings benefits through MCCLYMONDS SUPPLY & TRANSIT COMPANY, 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.

MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN is $62,037.00

MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN is $2,704.00. 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.
173,097.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,704.00 in MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in MCCLYMONDS SUPPLY & TRANSIT COMPANY, 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.

MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN allocates $1,405,883.00 to match its employees’ contributions, providing an employer match rate of 96.08% of their contributions

MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN is approximately $2,339.00
Investing in this additonal $2,339.00 for 20 years would give you extra $149,711.00, 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.

MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN Contribution & Match Policy

MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN Plan Policies

MCCLYMONDS SUPPLY & TRANSIT COMPANY, INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Participants may elect to contribute up to 100% of his or her eligible compensation, subject to IRS dollar limitations.
  • The Plan includes an automatic contribution provision for employees hired after December 31, 2014.
  • If a participant fails to elect an alternative contribution amount or fails to elect not to contribute, the Company will automatically defer 3% of the participant.
  • Participants who are enrolled in automatic contributions will receive a 0.5% increase in contribution deferral percentage every year, up to a maximum of 5% of compensation.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • The Plan provides for a discretionary employer matching contribution, which was equal to 25% of the first 5% of each participant’s elective deferral in 2024 and 2023.
  • Participants are immediately vested in their voluntary contributions and actual earnings thereon.
  • Participants became vested in the Company’s discretionary contributions in accordance with the following vesting schedule: Periods of Service Percentage 1 0% 2 20% 3 40% 4 60% 5 80% 6 100% Participants attaining the age of 65 while employed by the Company and those who have died or become disabled before termination of employment are 100% vested.

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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