SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC Contribution & Employer Match
How SOUTHERN MARYLAND ELECTRIC COOPERATIVE Supports Your Retirement Savings
SOUTHERN MARYLAND ELECTRIC COOPERATIVE provides retirement savings benefits through SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC. 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.
SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC Average Participant Retirement Account Value
SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC Estimated Average Employee Contribution Amount
1,403,138.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 21,924.00 in SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC
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.
SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC Total Employer Contribution and Match Rate
SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC Estimated Average Employer Match
Investing in this additonal $14,046.00 for 20 years would give you extra $898,955.00, 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.
SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC Contribution & Match Policy
SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC Contribution, Match and Other Plan Policies
- Unless participants elect otherwise, the Cooperative will automatically withhold 6% of annual compensation as contributions to the Plan.
- Participants may elect to withhold a different percentage, from 1% to 65% of their annual compensation as defined by the Plan and up to the limits allowed under federal tax laws, by notifying the Cooperative in a timely manner.
- Participants can change the amount that they have withheld on a bi-weekly basis.
- Participants who are over the age of 50 may make additional contributions as allowed by federal tax laws.
- Unless participants elect otherwise, if they are making contributions in an amount less than 12% of their compensation, the Cooperative will automatically increase their contribution by an additional 1% of compensation annually, not to exceed 12%.
- The Cooperative shall make a Safe Harbor Matching Contribution that will equal 100% of the first 6% of eligible participants’ compensation for the contribution period.
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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