PHILLIPS FARMS, LLC 401(K) PLAN Contribution & Employer Match
How PHILLIPS FARMS, LLC Supports Your Retirement Savings
PHILLIPS FARMS, LLC provides retirement savings benefits through PHILLIPS FARMS, LLC 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.
PHILLIPS FARMS, LLC 401(K) PLAN Average Participant Retirement Account Value
PHILLIPS FARMS, LLC 401(K) PLAN Estimated Average Employee Contribution Amount
284,910.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,451.00 in PHILLIPS FARMS, LLC 401(K) PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in PHILLIPS FARMS, LLC 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.
PHILLIPS FARMS, LLC 401(K) PLAN Total Employer Contribution and Match Rate
PHILLIPS FARMS, LLC 401(K) PLAN Estimated Average Employer Match
Investing in this additonal $1,505.00 for 20 years would give you extra $96,351.00, 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.
PHILLIPS FARMS, LLC 401(K) PLAN Contribution & Match Policy
PHILLIPS FARMS, LLC 401(K) PLAN Contribution, Match and Other Plan Policies
- Eligible employees of the Company may elect to contribute up to the maximum limit established annually by the Internal Revenue Service.
- Effective January 1, 2015, the Company makes safe harbor matching contributions equal to 100% of an employee’s salary deferrals that do not exceed 3% of their compensation, plus 50% of the employee’s salary deferral between 3% and 5% of the employee’s compensation.
- Participants are immediately vested in their elective deferral contributions and the Company’s safe harbor contributions plus actual earnings thereon.
- Discretionary profit sharing and employer matching contributions are vested at 20 percent each year starting at two years of credited service.
- A participant is 100 percent vested after six years of credited service, after reaching normal retirement age, or upon death or total and permanent disability.
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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