SCHULTES PRECISION MANUFACTURING 401(K) PLAN Contribution & Employer Match

How SCHULTES PRECISION MANUFACTURING, INC Supports Your Retirement Savings

SCHULTES PRECISION MANUFACTURING, INC provides retirement savings benefits through SCHULTES PRECISION MANUFACTURING 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.

SCHULTES PRECISION MANUFACTURING 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for SCHULTES PRECISION MANUFACTURING 401(K) PLAN is $20,685.00

SCHULTES PRECISION MANUFACTURING 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for SCHULTES PRECISION MANUFACTURING 401(K) PLAN is $2,640.00. 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.
168,991.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,640.00 in SCHULTES PRECISION MANUFACTURING 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in SCHULTES PRECISION MANUFACTURING 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.

SCHULTES PRECISION MANUFACTURING 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, SCHULTES PRECISION MANUFACTURING 401(K) PLAN allocates $111,261.00 to match its employees’ contributions, providing an employer match rate of 21.72% of their contributions

SCHULTES PRECISION MANUFACTURING 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in SCHULTES PRECISION MANUFACTURING 401(K) PLAN is approximately $564.00
Investing in this additonal $564.00 for 20 years would give you extra $36,145.00, 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.

SCHULTES PRECISION MANUFACTURING 401(K) PLAN Contribution & Match Policy

SCHULTES PRECISION MANUFACTURING 401(K) PLAN Plan Policies

SCHULTES PRECISION MANUFACTURING 401(K) PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute the lesser of $23,000 in 2024 and $22,500 in 2023, or up to 100% of their pretax annual eligible compensation (elective contribution).
  • Participants are also permitted to designate that a portion or all elective contributions be classified as Roth contributions in which the deferral would be included in the participant’s gross income at the time of the deferral.
  • Plan participants who are eligible to make salary deferrals and have attained age 50 by December 31 of a calendar year may make catch-up salary deferrals in addition to regular salary deferrals for that year.
  • The limit for catch-up contributions is $7,500 in 2024 and 2023.
  • The Company made matching contributions equal to 50% of each participant’s 401(k) contributions per pay period, limited to the lesser of 8% of eligible compensation or $19.25 per pay period ($1,000 for the Plan year) at the discretion of the Company.
  • No matching contributions were made by the Company in 2024.
  • Participants are 100% vested immediately in their contributions and investment earnings thereon.
  • A participant is 100% vested in the Company’s matching and profit sharing contributions upon completing six years of credited service.
  • In the event of death, disability or retirement at designated ages, participants become fully vested.

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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