MEYER TOOL 401(K) AND PROFIT SHARING PLAN Contribution & Employer Match
How MEYER TOOL, INC. Supports Your Retirement Savings
MEYER TOOL, INC. provides retirement savings benefits through MEYER TOOL 401(K) AND PROFIT SHARING 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 TOOL 401(K) AND PROFIT SHARING PLAN Average Participant Retirement Account Value
MEYER TOOL 401(K) AND PROFIT SHARING PLAN Estimated Average Employee Contribution Amount
261,880.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,091.00 in MEYER TOOL 401(K) AND PROFIT SHARING PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in MEYER TOOL 401(K) AND PROFIT SHARING 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 TOOL 401(K) AND PROFIT SHARING PLAN Total Employer Contribution and Match Rate
MEYER TOOL 401(K) AND PROFIT SHARING PLAN Estimated Average Employer Match
Investing in this additonal $201.00 for 20 years would give you extra $12,884.00, 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 TOOL 401(K) AND PROFIT SHARING PLAN Contribution & Match Policy
MEYER TOOL 401(K) AND PROFIT SHARING PLAN Contribution, Match and Other Plan Policies
- A participant may contribute up to the annual maximum amount permitted by the Internal Revenue Code (IRC) through payroll deductions.
- The Company contributed a discretionary matching contribution of 10% of the first 4% of the participants’ eligible compensation in 2024 and 2023.
- Vesting schedule: Years of Vested Service Percentage 1 10% 2 20% 3 40% 4 60% 5 80% 6 100% Participants are 100% vested in their own contributions at all times.
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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