SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN Contribution & Employer Match

How SUGAR CANE GROWERS COOPERATIVE OF FLORIDA Supports Your Retirement Savings

SUGAR CANE GROWERS COOPERATIVE OF FLORIDA provides retirement savings benefits through SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 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.

SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN is $72,191.00

SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN is $8,418.00. 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.
538,754.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 8,418.00 in SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 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.

SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN allocates $2,035,878.00 to match its employees’ contributions, providing an employer match rate of 84.86% of their contributions

SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN is approximately $3,571.00
Investing in this additonal $3,571.00 for 20 years would give you extra $228,589.00, 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.

SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN Contribution & Match Policy

SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN Plan Policies

SUGAR CANE GROWERS COOPERATIVE OF FLORIDA 401(K) PLAN Contribution, Match and Other Plan Policies

  • Employees may make pretax voluntary contributions of up to 100% of their eligible annual compensation, as defined in the Plan Agreement, subject to certain IRS limitations.
  • Effective August 1, 2023, the Plan also allows employees to elect Roth after-tax contributions.
  • For 2024 and 2023, individual participant contributions were limited to $23,000 and $22,500, respectively.
  • Participants who are age 50 before the end of the Plan year are eligible to make catch-up contributions of up to $7,500 for 2024 and 2023.
  • For 2024 and 2023, the Employer has matched 50% of the first 6% of such participant’s contribution based on the annual qualified compensation, except the Employer set matching contributions for employees hired before January 1, 2006 and in the following age groups on December 31, 2005 as follows: Age Group Employer Matching: 50-54 66.75% of the first 6% of annual compensation; Over 55 100.00% of the first 6% of annual compensation.
  • Participants are immediately vested in their voluntary contributions and the Employer Safe Harbor Non Elective contributions, plus actual earnings thereon.
  • Vesting in the remainder of their accounts is based on years of continuous service.
  • A participant is 100% vested at the normal retirement age of 65, death, disability and after three years of credited 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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