PENOBSCOT COMMUNITY HEALTH CENTER 403(B) PLAN Contribution & Employer Match
How PENOBSCOT COMMUNITY HEALTH CENTER Supports Your Retirement Savings
PENOBSCOT COMMUNITY HEALTH CENTER provides retirement savings benefits through PENOBSCOT COMMUNITY HEALTH CENTER 403(B) 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.
PENOBSCOT COMMUNITY HEALTH CENTER 403(B) PLAN Average Participant Retirement Account Value
PENOBSCOT COMMUNITY HEALTH CENTER 403(B) PLAN Estimated Average Employee Contribution Amount
450,217.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,034.00 in PENOBSCOT COMMUNITY HEALTH CENTER 403(B) PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in PENOBSCOT COMMUNITY HEALTH CENTER 403(B) 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.
PENOBSCOT COMMUNITY HEALTH CENTER 403(B) PLAN Total Employer Contribution and Match Rate
PENOBSCOT COMMUNITY HEALTH CENTER 403(B) PLAN Estimated Average Employer Match
Investing in this additonal $756.00 for 20 years would give you extra $48,396.00, 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.
PENOBSCOT COMMUNITY HEALTH CENTER 403(B) PLAN Contribution & Match Policy
PENOBSCOT COMMUNITY HEALTH CENTER 403(B) PLAN Contribution, Match and Other Plan Policies
- Participants may defer up to 100% of their compensation subject to Internal Revenue Service (IRS) limits.
- The Plan allows for both pre-tax and Roth elective deferrals.
- Enrollment in the Plan is automatic upon commencement of employment; however, the employee may elect not to participate.
- Employees of PCHC who are eligible and participate in the Plan may receive a discretionary employer matching contribution.
- Effective January 1, 2023, the Plan will make a matching contribution of 33% of the first 6% of compensation with a maximum matching contribution of 2%.
- There is also a last day employment requirement in order to receive a match contribution.
- Participants are fully vested at all times in their employee elective deferral account and are not subject to forfeiture for any reason.
- Participants vest 20% each year of service and become fully vested in employer matching and profit-sharing contributions after five years.
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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