SAVE MORE RETIREMENT PLAN AND TRUST Contribution & Employer Match

How BARNARD CONSTRUCTION COMPANY, INC. Supports Your Retirement Savings

BARNARD CONSTRUCTION COMPANY, INC. provides retirement savings benefits through SAVE MORE RETIREMENT PLAN AND TRUST. 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.

SAVE MORE RETIREMENT PLAN AND TRUST Average Participant Retirement Account Value

In 2024, the average participant retirement account value for SAVE MORE RETIREMENT PLAN AND TRUST is $100,423.00

SAVE MORE RETIREMENT PLAN AND TRUST Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for SAVE MORE RETIREMENT PLAN AND TRUST is $4,160.00. 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.
266,295.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,160.00 in SAVE MORE RETIREMENT PLAN AND TRUST, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in SAVE MORE RETIREMENT PLAN AND TRUST

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.

SAVE MORE RETIREMENT PLAN AND TRUST Total Employer Contribution and Match Rate

In 2024, SAVE MORE RETIREMENT PLAN AND TRUST allocates $7,484,550.00 to match its employees’ contributions, providing an employer match rate of 146.84% of their contributions

SAVE MORE RETIREMENT PLAN AND TRUST Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in SAVE MORE RETIREMENT PLAN AND TRUST is approximately $5,911.00
Investing in this additonal $5,911.00 for 20 years would give you extra $378,365.00, 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.

SAVE MORE RETIREMENT PLAN AND TRUST Contribution & Match Policy

SAVE MORE RETIREMENT PLAN AND TRUST Plan Policies

SAVE MORE RETIREMENT PLAN AND TRUST Contribution, Match and Other Plan Policies

  • Each year, the participants may contribute up to 90% of pretax annual compensation, as defined in the Plan.
  • Participants aged 50 or older before the close of the Plan year are eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code.
  • The matching contribution is 100% of the annually declared matching contribution percentage for those participants with salary deferrals equal to or greater than 6% of eligible compensation.
  • The matching contribution is the ratio of the participants’ salary deferrals up to 6% multiplied by the matching contribution percentage for those participants with salary deferrals less than 6%.
  • During 2024 and 2023, the Companies declared matching contribution percentage was 5%.
  • Participants are immediately vested in their own salary reduction and rollover contributions, plus actual earnings thereon.
  • A participant is immediately vested in contributions and earnings thereon under the Davis Bacon Act.
  • Other participants are fully vested in the Companies’ contributions and earnings thereon after completion of two years of credited service, with a minimum of 1,000 hours of service per year.

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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