MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN Contribution & Employer Match

How MCKENNEY’S, INC. Supports Your Retirement Savings

MCKENNEY’S, INC. provides retirement savings benefits through MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 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.

MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN is $67,495.00

MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN is $3,548.00. 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.
227,108.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,548.00 in MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 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.

MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN allocates $4,064,831.00 to match its employees’ contributions, providing an employer match rate of 66.62% of their contributions

MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN is approximately $2,121.00
Investing in this additonal $2,121.00 for 20 years would give you extra $135,777.00, 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.

MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN Contribution & Match Policy

MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN Plan Policies

MCKENNEY’S, INC. AND AFFILIATED COMPANIES PROFIT SHARING AND 401(K) PLAN Contribution, Match and Other Plan Policies

  • Each participant may make pre-tax contributions of up to 60% of eligible compensation as defined by the Plan document, not to exceed a maximum of $23,000 in 2024, plus an additional $7,500 for participants 50 and over by the end of the Plan year.
  • Within 30 days of employment, all eligible non-union employees will be automatically enrolled in the Plan at 3% of compensation unless they elect otherwise.
  • This deferral rate will be increased each year on October 19th by 1% of their eligible compensation not to exceed 10% unless the employee elects otherwise.
  • In 2024, the Company contributed discretionary matching contributions of 100% of the first 5% of eligible participant compensation up to $100,000 of eligible compensation, and 50% of the next 5% of eligible participant compensation in excess of $100,000 of eligible compensation.
  • Participants are vested immediately in their contributions plus earnings and losses thereon.
  • The Company’s discretionary matching contributions and discretionary profit sharing contributions vest 20% per year of continuous service and are fully vested after five years of service.

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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