PARRISH SECURITY SERVICES 401(K) PLAN Contribution & Employer Match

How PARRISH SECURITY GROUP Supports Your Retirement Savings

PARRISH SECURITY GROUP provides retirement savings benefits through PARRISH SECURITY SERVICES 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.

PARRISH SECURITY SERVICES 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for PARRISH SECURITY SERVICES 401(K) PLAN is $4,340.00

PARRISH SECURITY SERVICES 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for PARRISH SECURITY SERVICES 401(K) PLAN is $1,250.00. 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.
80,036.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,250.00 in PARRISH SECURITY SERVICES 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in PARRISH SECURITY SERVICES 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.

PARRISH SECURITY SERVICES 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, PARRISH SECURITY SERVICES 401(K) PLAN allocates $167,977.00 to match its employees’ contributions, providing an employer match rate of 49.93% of their contributions

PARRISH SECURITY SERVICES 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in PARRISH SECURITY SERVICES 401(K) PLAN is approximately $579.00
Investing in this additonal $579.00 for 20 years would give you extra $37,070.00, 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.

PARRISH SECURITY SERVICES 401(K) PLAN Contribution & Match Policy

PARRISH SECURITY SERVICES 401(K) PLAN Plan Policies

PARRISH SECURITY SERVICES 401(K) PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute a portion of their annual eligible compensation, as defined in the Plan document, and subject to certain Internal Revenue Service (IRS) limitations.
  • Participants who have attained the age of 50 before the end of the plan year are eligible to make catch-up contributions.
  • The Plan includes a Qualified Automatic Contribution Arrangement (QACA) whereby once employees become eligible to enter the Plan, a 3% pre-tax deferral contribution is initially elected, unless the employee makes a timely salary deferral election and elects a different deferral percentage, including 0%.
  • The QACA pre-tax deferral contribution will automatically increase by 1% on the first day of the second Plan year, and the first day of each Plan year thereafter up to a maximum of 6% of eligible earnings.
  • The Company makes a safe harbor matching contribution of 100% of the first one percent of base compensation that a participant contributes to the Plan plus 50% of base compensation that a participant contributes to the Plan that exceeds one percent up to six percent of base compensation calculated on a pay period basis.
  • Participants are vested immediately in their elective contributions and the earnings thereon.
  • Participants are fully vested in Company contributions after one year of service.
  • Effective December 1, 2024, the Plan was amended to participants are fully vested in Company matching and profit sharing contributions after two years of service.

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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