NEXTEP 401(K) RETIREMENT SAVINGS PLAN Contribution & Employer Match

How 899210-01 NEXTEP, INC. Supports Your Retirement Savings

899210-01 NEXTEP, INC. provides retirement savings benefits through NEXTEP 401(K) RETIREMENT SAVINGS 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.

NEXTEP 401(K) RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for NEXTEP 401(K) RETIREMENT SAVINGS PLAN is $26,442.00

NEXTEP 401(K) RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for NEXTEP 401(K) RETIREMENT SAVINGS PLAN is $2,972.00. 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.
190,238.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,972.00 in NEXTEP 401(K) RETIREMENT SAVINGS PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in NEXTEP 401(K) RETIREMENT SAVINGS 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.

NEXTEP 401(K) RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate

In 2024, NEXTEP 401(K) RETIREMENT SAVINGS PLAN allocates $18,704,389.00 to match its employees’ contributions, providing an employer match rate of 40.00% of their contributions

NEXTEP 401(K) RETIREMENT SAVINGS PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in NEXTEP 401(K) RETIREMENT SAVINGS PLAN is approximately $873.00
Investing in this additonal $873.00 for 20 years would give you extra $55,886.00, 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.

NEXTEP 401(K) RETIREMENT SAVINGS PLAN Contribution & Match Policy

NEXTEP 401(K) RETIREMENT SAVINGS PLAN Plan Policies

NEXTEP 401(K) RETIREMENT SAVINGS PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute up to 100% of eligible compensation, as defined in the Plan, and designate those contributions as either pre-tax or Roth.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • Each adopting employer may elect to include an auto-enrollment provision whereby all newly eligible employees are automatically enrolled into the Plan unless they affirmatively elect not to participate.
  • Each adopting employers’ matching contributions are discretionary and determined as a percentage of participant elected deferrals for that employer.
  • If elected, each adopting employer can make a safe harbor matching contribution.
  • Participants are vested immediately in their contributions plus earnings thereon.
  • Participants are also immediately vested in all safe harbor matching contributions.
  • Each participating employer provides vesting of participating employer discretionary contributions; refer to specific plan agreements for service criteria, vesting percentages, and the policies regarding vesting upon termination.

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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