MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN Contribution & Employer Match

How MIDWEST CARDIOVASCULAR INSTITUTE, S.C. Supports Your Retirement Savings

MIDWEST CARDIOVASCULAR INSTITUTE, S.C. provides retirement savings benefits through MIDWEST CARDIOVASCULAR INSTITUTE 401(K)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.

MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN is $11,950.00. 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.
764,848.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 11,950.00 in MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in MIDWEST CARDIOVASCULAR INSTITUTE 401(K)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.

MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2024, MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN allocates $1,646,223.00 to match its employees’ contributions, providing an employer match rate of 102.80% of their contributions

MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN is approximately $6,142.00
Investing in this additonal $6,142.00 for 20 years would give you extra $393,127.00, 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.

MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN Contribution & Match Policy

MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN Plan Policies

MIDWEST CARDIOVASCULAR INSTITUTE 401(K)PROFIT SHARING PLAN Contribution, Match and Other Plan Policies

  • Participants can make salary deferrals to the Plan.
  • Salary deferrals can be pre-tax contributions or Roth deferrals.
  • The Internal Revenue Service (IRS) imposes limits on the amount of contributions a participant can make to the Plan each calendar year.
  • Participants at least age 50 may make catch-up contributions to the Plan.
  • Participants can change, modify, or revoke their contributions at any time.
  • The Plan is also set up with an automatic deferral and automatic increase feature.
  • Unless the participant elects otherwise, the Company will automatically withhold 3% of their compensation each payroll period and increase 1% each year thereafter up to maximum of 9% of their compensation.
  • During 2024, the Company matched 20% of the participants’ elective deferrals up to 6% of eligible compensation.
  • Vesting for Company contributions is based on a six-year vesting schedule, in which participants earn 20% vesting after two years of service and thereafter each subsequent year until they reach 100%.
  • Participants are always 100% vested in their contributions attributable to elective deferrals including Roth 401(k) deferrals, catch-up contributions, and rollover contributions.

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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