MEYER -HESTAN 401(K) RETIREMENT PLAN Contribution & Employer Match

How MEYER CORPORATION U.S. Supports Your Retirement Savings

MEYER CORPORATION U.S. provides retirement savings benefits through MEYER -HESTAN 401(K) 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.

MEYER -HESTAN 401(K) RETIREMENT PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for MEYER -HESTAN 401(K) RETIREMENT PLAN is $124,031.00

MEYER -HESTAN 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for MEYER -HESTAN 401(K) RETIREMENT PLAN is $4,598.00. 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.
294,335.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,598.00 in MEYER -HESTAN 401(K) RETIREMENT PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in MEYER -HESTAN 401(K) 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.

MEYER -HESTAN 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2024, MEYER -HESTAN 401(K) RETIREMENT PLAN allocates $1,769,339.00 to match its employees’ contributions, providing an employer match rate of 60.63% of their contributions

MEYER -HESTAN 401(K) RETIREMENT PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in MEYER -HESTAN 401(K) RETIREMENT PLAN is approximately $2,895.00
Investing in this additonal $2,895.00 for 20 years would give you extra $185,331.00, 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.

MEYER -HESTAN 401(K) RETIREMENT PLAN Contribution & Match Policy

MEYER -HESTAN 401(K) RETIREMENT PLAN Plan Policies

MEYER -HESTAN 401(K) RETIREMENT PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may elect to contribute up to 100% of their eligible compensation to the Plan, up to the maximum allowed under section 401(k) of the Internal Revenue Code ("IRC").
  • Participants who have attained age 50 before the end of the Plan year are eligible to make "catch-up" contributions, subject to statutory limits.
  • Participants may also contribute amounts representing distributions from other qualified retirement plans.
  • Newly eligible employees are automatically enrolled into the Plan at an initial deferral rate of 4% of eligible compensation into a default investment fund until changed by the participant.
  • Participants automatically enrolled in the Plan are subject to annual scheduled deferral percentage increases of 1% on the first day of each proceeding Plan year, up to a maximum of 10% of eligible compensation.
  • The Company may make a safe harbor matching contribution of up to 100% of the first 4% of a participant’s deferred salary contributions.
  • The Company may also make discretionary employer matching contributions equal to a discretionary percentage, to be determined by the Company.
  • During the year ended December 31, 2024, the Company matched an additional 2% of a participant’s deferred salary contribution up to a maximum of 6% of total eligible compensation.
  • Participants are immediately vested in their contributions, including rollovers of funds from other qualified retirement plans and earnings thereon, and in safe harbor matching contributions.
  • Participants become vested in the Company’s discretionary employer matching contributions over a four-year graded vesting schedule.

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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