SKIDMORE 403(B) RETIREMENT PLAN Contribution & Employer Match

How SKIDMORE COLLEGE Supports Your Retirement Savings

SKIDMORE COLLEGE provides retirement savings benefits through SKIDMORE 403(B) RETIREMENT 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.

SKIDMORE 403(B) RETIREMENT PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for SKIDMORE 403(B) RETIREMENT PLAN is $189,223.00

SKIDMORE 403(B) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for SKIDMORE 403(B) RETIREMENT PLAN is $2,684.00. 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.
171,811.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,684.00 in SKIDMORE 403(B) RETIREMENT PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in SKIDMORE 403(B) RETIREMENT 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.

SKIDMORE 403(B) RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2024, SKIDMORE 403(B) RETIREMENT PLAN allocates $7,312,428.00 to match its employees’ contributions, providing an employer match rate of 143.86% of their contributions

SKIDMORE 403(B) RETIREMENT PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in SKIDMORE 403(B) RETIREMENT PLAN is approximately $3,755.00
Investing in this additonal $3,755.00 for 20 years would give you extra $240,367.00, 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.

SKIDMORE 403(B) RETIREMENT PLAN Contribution & Match Policy

SKIDMORE 403(B) RETIREMENT PLAN Plan Policies

SKIDMORE 403(B) RETIREMENT PLAN Contribution, Match and Other Plan Policies

  • Each eligible employee, as defined above, can elect to make pre-tax and Roth contributions into the Plan up to 100% of their compensation subject to certain limitations under the IRC.
  • Participants who are projected to be age 50 or older by the end of the calendar year are eligible to make catch-up contributions up to the dollar amount permissible under the Internal Revenue Service (IRS).
  • The College contributes an amount equal to 10% of base annual salary/wages if an eligible employee is less than age 50, or 11% if age 50 or over, into the Plan.
  • In addition to the contributions described above, the College contributes an amount equal to 1% of base annual salary/wages of an eligible employee with a start date on or after September 4, 2008 who is a fully benefits eligible employee, but who is not eligible for the College’s postretirement healthcare plan.
  • Employees are 100% vested in all contributions plus actual earnings thereon.

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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