PENSKE RETIREMENT SAVINGS PLAN Contribution & Employer Match
How PENSKE TRUCK LEASING CO., LP Supports Your Retirement Savings
PENSKE TRUCK LEASING CO., LP provides retirement savings benefits through PENSKE 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.
PENSKE RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value
PENSKE RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount
161,679.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,526.00 in PENSKE RETIREMENT SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in PENSKE 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.
PENSKE RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate
PENSKE RETIREMENT SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $316.00 for 20 years would give you extra $20,273.00, 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.
PENSKE RETIREMENT SAVINGS PLAN Contribution & Match Policy
PENSKE RETIREMENT SAVINGS PLAN Contribution, Match and Other Plan Policies
- Employee before-tax contributions not to exceed certain limits of the participant’s plan wages depending on plan tier and not to exceed $23,000 for 2024, as defined by the Plan.
- Catch-up contributions for participants who have attained the age of 50 before the end of the plan year up to the lesser of (a) 75% of the individual’s compensation for the year less any other deferrals or (b) $7,500 for 2024;
- Employer matching contributions of up to 100% of employee contributions for certain plan tiers;
- Participants are immediately 100% vested in their retirement contributions plus actual earnings (losses) thereon. Vesting in the Company’s matching and profit-sharing contributions plus earnings (losses) thereon is based on years of vesting service. A participant is 100% vested after five years of vesting service (according to the table below) or upon attainment of normal retirement age (65-67) or if his or her employment terminates by reason of death or disability prior to normal retirement. Participants who terminate their employment prior to attainment of normal retirement age for any reason other than death or disability shall have a nonforfeitable interest in the percentage of employer contributions determined pursuant to the following schedule: Vested Percentage Tier 2, 3, 8, 9, 12, 13, 16, 17, 18, 19, 20, 21, 22, 23, 24, 26, or Tier 1, 11, 27 Tier 4 or 14 Tier 5 Tier 6 or 25 Tier 15 Vesting service in years participant participant participant participant participant participant
- Less than 1 years: 0%
- 2-3 years: 20%
- 50-100 years: 25%
- 3-4 years: 50%
- 50-100 years: 50%
- 4-5 years: 75%
- 75-100 years: 75%
- 1-2 years: 20%
- 2-3 years: 40%
- 3-4 years: 60%
- 4-5 years: 80%
- 5+ years: 100%
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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