MW&E SAVINGS AND RETIREMENT PLAN Contribution & Employer Match
How MCDERMOTT WILL & EMERY LLP Supports Your Retirement Savings
MCDERMOTT WILL & EMERY LLP provides retirement savings benefits through MW&E SAVINGS AND 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.
MW&E SAVINGS AND RETIREMENT PLAN Average Participant Retirement Account Value
MW&E SAVINGS AND RETIREMENT PLAN Estimated Average Employee Contribution Amount
801,030.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 12,516.00 in MW&E SAVINGS AND RETIREMENT PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in MW&E SAVINGS AND 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.
MW&E SAVINGS AND RETIREMENT PLAN Total Employer Contribution and Match Rate
MW&E SAVINGS AND RETIREMENT PLAN Estimated Average Employer Match
Investing in this additonal $9,746.00 for 20 years would give you extra $623,754.00, 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.
MW&E SAVINGS AND RETIREMENT PLAN Contribution & Match Policy
MW&E SAVINGS AND RETIREMENT PLAN Contribution, Match and Other Plan Policies
- A participant may elect to have the Firm make a 401(k) contribution to the Plan on his or her behalf in an amount ranging from 1% to 75% of the participant’s earnings, as defined in the Plan.
- Prior to July 15, 2023, a participant could make voluntary (after-tax) contributions to the Plan ranging from 1% to 10% of his or her earnings.
- Effective July 15, 2023, a participant can make voluntary contributions to the Plan ranging from 1% to 75% of his or her earnings.
- 401(k) and voluntary contributions in the aggregate are limited to 75% of the participant’s earnings.
- Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
- The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan.
- Automatically enrolled participants have their deferral percentage set at 6% of eligible compensation and their contributions invested in a designated balance fund until changed by the participant.
- Automatically enrolled participants have their deferral rate increased at a rate of 1% per year on January 1 up to a maximum of 15% of eligible compensation unless otherwise changed by the participant.
- After a participant has completed one year of service, the Firm makes an additional annual contribution equal to the sum of 7.50% of the participant’s earnings plus 5.70% of the participant’s earnings in excess of the Social Security wage base for the year, provided the participant is employed by or associated with the Firm on the last day of the year.
- Each participant is fully vested in his or her account 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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