SKC, INC. 401(K) PLAN Contribution & Employer Match

How SKC, INC. Supports Your Retirement Savings

SKC, INC. provides retirement savings benefits through SKC, INC. 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.

SKC, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for SKC, INC. 401(K) PLAN is $13,993.00

SKC, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for SKC, INC. 401(K) PLAN is $5,072.00. 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.
324,653.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,072.00 in SKC, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in SKC, INC. 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.

SKC, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, SKC, INC. 401(K) PLAN allocates $403,997.00 to match its employees’ contributions, providing an employer match rate of 101.45% of their contributions

SKC, INC. 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in SKC, INC. 401(K) PLAN is approximately $2,573.00
Investing in this additonal $2,573.00 for 20 years would give you extra $164,686.00, 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.

SKC, INC. 401(K) PLAN Contribution & Match Policy

SKC, INC. 401(K) PLAN Plan Policies

SKC, INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may contribute up to 90% of their eligible compensation in the form of before-tax or after-tax contributions, subject to certain limitations under the Internal Revenue Code (IRC).
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • The Plan has a provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan.
  • Automatically enrolled participants have their deferral rate set at 3% of eligible compensation and their contributions are invested in a designated balanced fund until changed by the participant.
  • As defined by the Plan, the Company makes matching contributions equal to 100% of a participant’s deferral, up to 3%.
  • Additionally, the Company may make discretionary matching contributions with the approval of the board of directors.
  • For the year ended December 31, 2024, the Company contributed discretionary nonelective contributions equal to 3% of eligible compensation to the Plan.
  • Participants are immediately vested in their voluntary contributions plus actual earnings thereon.
  • Vesting in the remainder of their accounts is based on years of service.
  • A participant is 100% vested after three years of continuous service.

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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