SCHNUCKS PAY DEFERRAL PLAN-30 Contribution & Employer Match
How SCHNUCK MARKETS, INC. Supports Your Retirement Savings
SCHNUCK MARKETS, INC. provides retirement savings benefits through SCHNUCKS PAY DEFERRAL PLAN-30. 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.
SCHNUCKS PAY DEFERRAL PLAN-30 Average Participant Retirement Account Value
SCHNUCKS PAY DEFERRAL PLAN-30 Estimated Average Employee Contribution Amount
37,126.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 580.00 in SCHNUCKS PAY DEFERRAL PLAN-30, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in SCHNUCKS PAY DEFERRAL PLAN-30
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.
SCHNUCKS PAY DEFERRAL PLAN-30 Total Employer Contribution and Match Rate
SCHNUCKS PAY DEFERRAL PLAN-30 Estimated Average Employer Match
Investing in this additonal $78.00 for 20 years would give you extra $5,028.00, 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.
SCHNUCKS PAY DEFERRAL PLAN-30 Contribution & Match Policy
SCHNUCKS PAY DEFERRAL PLAN-30 Contribution, Match and Other Plan Policies
- Participants have the option of contributing from1% to 50% of their eligible compensation, as pretax or Roth deferrals, not to exceed the dollar limitations contained in the IRC, except for highly compensated employees who are limited to 12%.
- The Plan has a catch-up contribution option that allows employees who reached age 50 or more during the Plan year the option to make catch-up contributions to the Plan from 1% to 75% of their annual compensation of up to $7,500 and $6,500 for the years ending December 31, 2024 and 2023, respectively.
- The Plan incorporates an auto-enrollment and auto-reenrollment feature for all eligible employees.
- If a deferral rate is not elected or if an employee’s deferral rate is less than 3%, the employee will automatically be enrolled at 3%.
- The Plan also includes a deferral escalation feature in which employees’ deferral rates will increase on or around the first pay period on or after December 1, annually by 1% until a maximum of 10% is reached.
- The Company contributes an amount equal to the contribution by a participant up to 3% of participant’s compensation.
- The Company may then contribute 50% of contributions by a participant, with total matching contributions not to exceed 5% of each participant’s compensation.
- For Local 688 Warehouse employees, the Company matches 100% of the first 4% of salary deferrals.
- Participants are immediately vested in their elective deferrals, rollover contributions, transfer contributions, and employer matching contributions, plus or minus actual earnings or losses thereon.
- Participants are also fully vested upon the attainment of normal retirement age, retirement due to disability, death, or the termination of the Plan.
- Local 688 Warehouse participants are immediately vested in all contributions.
- For employer non-elective contributions to the Plan, participants vest as follows: Vesting Years of Service Percentage Less than two – % Two 20 % Three 40 % Four 60 % Five 80 % Six or more 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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