OTR WHEEL ENGINEERING, INC. 401(K) PLAN Contribution & Employer Match

How OTR WHEEL ENGINEERING, INC. Supports Your Retirement Savings

OTR WHEEL ENGINEERING, INC. provides retirement savings benefits through OTR WHEEL ENGINEERING, 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.

OTR WHEEL ENGINEERING, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for OTR WHEEL ENGINEERING, INC. 401(K) PLAN is $30,520.00

OTR WHEEL ENGINEERING, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for OTR WHEEL ENGINEERING, INC. 401(K) PLAN is $3,267.00. 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.
209,143.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,267.00 in OTR WHEEL ENGINEERING, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in OTR WHEEL ENGINEERING, 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.

OTR WHEEL ENGINEERING, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, OTR WHEEL ENGINEERING, INC. 401(K) PLAN allocates $836,624.00 to match its employees’ contributions, providing an employer match rate of 54.24% of their contributions

OTR WHEEL ENGINEERING, INC. 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in OTR WHEEL ENGINEERING, INC. 401(K) PLAN is approximately $1,345.00
Investing in this additonal $1,345.00 for 20 years would give you extra $86,083.00, 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.

OTR WHEEL ENGINEERING, INC. 401(K) PLAN Contribution & Match Policy

OTR WHEEL ENGINEERING, INC. 401(K) PLAN Plan Policies

OTR WHEEL ENGINEERING, INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute from 1% to 100% of annual compensation, as defined in the Plan document, limited by the amount allowed under the Internal Revenue Code (IRC), which was $23,000 for the year ended December 31, 2024.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • The Company makes Qualified Safe Harbor Contributions of 100% of the first 3% of eligible compensation deferred by the participant and 50% of the next 2% deferred by the participant.
  • The Company may also make discretionary matching contributions.
  • No discretionary matching contributions were made by the Company during the year ended December 31, 2024.
  • Participants are immediately vested in their contributions and the Company’s Qualified Safe Harbor Contributions plus actual earnings thereon.
  • Vesting in the Company’s optional discretionary matching contributions and earnings thereon is based on years of continuous service.
  • Participants become vested in the Company’s discretionary matching contribution in accordance with the following schedule: Percentage Completed Matching Years of Contributions Service Vested 1 20% 2 40% 3 60% 4 80% 5 100% Participants acquired through the Hoosier merger become vested in the non-elective contributions transferred into the Plan or made by the Company in accordance with the following schedule: Percentage Transferred Percentage Completed Non-elective Non-elective Years of Contributions Contributions Service Vested Vested 0-1 0% 20% 2 20% 40% 3 50% 60% 4 100% 100% Participants are immediately vested upon termination of the Plan, upon reaching normal retirement age of 65, or upon disability or death while an employee of the Plan Sponsor.
  • Participants who transferred from Hoosier will become 100% vested after four years of service and upon reaching age 55.

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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