SPS NORTH AMERICA INC. 401K PLAN Contribution & Employer Match

How SPS NORTH AMERICA INC. Supports Your Retirement Savings

SPS NORTH AMERICA INC. provides retirement savings benefits through SPS NORTH AMERICA INC. 401K 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.

SPS NORTH AMERICA INC. 401K PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for SPS NORTH AMERICA INC. 401K PLAN is $13,272.00

SPS NORTH AMERICA INC. 401K PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for SPS NORTH AMERICA INC. 401K PLAN is $3,344.00. 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.
214,057.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,344.00 in SPS NORTH AMERICA INC. 401K PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in SPS NORTH AMERICA INC. 401K 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.

SPS NORTH AMERICA INC. 401K PLAN Total Employer Contribution and Match Rate

In 2024, SPS NORTH AMERICA INC. 401K PLAN allocates $2,313,663.00 to match its employees’ contributions, providing an employer match rate of 42.61% of their contributions

SPS NORTH AMERICA INC. 401K PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in SPS NORTH AMERICA INC. 401K PLAN is approximately $712.00
Investing in this additonal $712.00 for 20 years would give you extra $45,603.00, 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.

SPS NORTH AMERICA INC. 401K PLAN Contribution & Match Policy

SPS NORTH AMERICA INC. 401K PLAN Plan Policies

SPS NORTH AMERICA INC. 401K PLAN Contribution, Match and Other Plan Policies

  • Participants are allowed to contribute up to 80% of their pre-tax compensation, as defined, and are subject to certain statutory limitations.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • Participants may also contribute amounts representing distributions received from other qualified plans and certain IRAs (rollover contributions).
  • Upon eligibility, employees are automatically enrolled in the Plan for a 3% contribution with an increase of 1% at each anniversary date of initial enrollment, up to a maximum of 6%; they may elect to contribute a different amount (or not to participate).
  • The Company provides safe harbor matching contributions equal to 100% of the first 1% of compensation, as defined by the Plan, that a participant contributes to the Plan, plus 50% of the next 5% of compensation a participant contributes.
  • The matching contribution is limited to 3.5% of a participant’s eligible compensation, which is subject to certain statutory limitations.
  • Participants are immediately vested in their elective contributions and actual earnings thereon. Vesting in Company safe harbor matching contributions and the earnings thereon is based on years of continuous service as follows: Years of Continuous Service Percentage
  • Less than 1 years: 0%

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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