SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN Contribution & Employer Match

How SUMMIT RADIOLOGY P.C. Supports Your Retirement Savings

SUMMIT RADIOLOGY P.C. provides retirement savings benefits through SUMMIT RADIOLOGY, P.C. PROFIT SHARING 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.

SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN is $536,293.00

SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN is $10,337.00. 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.
661,601.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 10,337.00 in SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in SUMMIT RADIOLOGY, P.C. PROFIT SHARING 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.

SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2024, SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN allocates $1,994,495.00 to match its employees’ contributions, providing an employer match rate of 152.52% of their contributions

SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN is approximately $14,665.00
Investing in this additonal $14,665.00 for 20 years would give you extra $938,585.00, 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.

SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN Contribution & Match Policy

SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN Plan Policies

SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN Contribution, Match and Other Plan Policies

  • Participants may make voluntary pre-tax and Roth contributions up to 100% of compensation limited to the applicable limit under the Internal Revenue Code.
  • The Plan provides for an automatic savings increase provision in which a participant’s contribution rate will increase by 1% per year up to a maximum of 4% of eligible compensation until an affirmative election is made by the respective participant.
  • The Company makes a safe habor match of 100% of participant contributions up to 4% of eligible compensation.
  • The Company may also make a discretionary profit sharing contribution.
  • For the year ended December 31, 2024, the discretionary profit sharing contribution was approximately $1,400,000.
  • Participants are immediately vested in their elective (voluntary) contributions and Company safe harbor contributions and income or loss thereon.
  • Vesting in the Company’s profit sharing contribution is based on years of service.
  • A participant becomes 50% vested after two years of service with full vesting 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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