MGE UNDERGROUND, INC. 401(K) PLAN Contribution & Employer Match

How MGE UNDERGROUND, INC. Supports Your Retirement Savings

MGE UNDERGROUND, INC. provides retirement savings benefits through MGE UNDERGROUND, 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.

MGE UNDERGROUND, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for MGE UNDERGROUND, INC. 401(K) PLAN is $58,229.00

MGE UNDERGROUND, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for MGE UNDERGROUND, INC. 401(K) PLAN is $4,938.00. 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.
316,075.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,938.00 in MGE UNDERGROUND, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in MGE UNDERGROUND, 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.

MGE UNDERGROUND, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, MGE UNDERGROUND, INC. 401(K) PLAN allocates $785,117.00 to match its employees’ contributions, providing an employer match rate of 105.98% of their contributions

MGE UNDERGROUND, INC. 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in MGE UNDERGROUND, INC. 401(K) PLAN is approximately $2,617.00
Investing in this additonal $2,617.00 for 20 years would give you extra $167,491.00, 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.

MGE UNDERGROUND, INC. 401(K) PLAN Contribution & Match Policy

MGE UNDERGROUND, INC. 401(K) PLAN Plan Policies

MGE UNDERGROUND, INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute into the Plan a percentage of pretax annual compensation as defined in the plan document.
  • Participants may also designate a portion or all of the deferral contributions as Roth 401(k) contributions that are includable in the participant’s gross income at the time deferred.
  • Elective contributions may not exceed the maximum deferral limit per section 402(g) of the Internal Revenue Code.
  • Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
  • The Company makes a safe harbor non-elective contribution in the amount of 3% of each eligible participant’s compensation during the year.
  • Participants are vested immediately in their contributions plus actual earnings thereon. All safe harbor and prevailing wage contributions are 100% vested immediately. Vesting in the Company’s discretionary matching or profit sharing contribution portion of their account balance, if any, is based on years of service, as defined in the Plan document, as follows: Years of service
  • Less than 2 years: 0%

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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