THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC Contribution & Employer Match
How ASARCO LLC Supports Your Retirement Savings
ASARCO LLC provides retirement savings benefits through THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC. 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.
THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC Average Participant Retirement Account Value
THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC Estimated Average Employee Contribution Amount
107,946.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,686.00 in THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC
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.
THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC Total Employer Contribution and Match Rate
THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC Estimated Average Employer Match
Investing in this additonal $1,648.00 for 20 years would give you extra $105,474.00, 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.
THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC Contribution & Match Policy
THE 401(K) SAVINGS PLAN FOR ELIGIBLE HOURLY-RATED EMPLOYEES OF ASARCO LLC Contribution, Match and Other Plan Policies
- Wage deferral contributions may range, in whole percentages, up to 75% of the participant’s earnings as defined, based on their physical location within the United States.
- A participant may elect to increase, decrease, or suspend the pre-tax and post-tax wage deferral contributions at any time, effective as of the first day of the payroll period following such election (or as soon as administratively practicable thereafter).
- Catch-up contributions, on a pre-tax basis up to the statutory maximum, are allowed for those participants 50 years and older.
- The Plan automatically enrolls newly eligible employees at 3% of basic earnings after one month of service and automatically increases the percentage by 1% each subsequent year until the IRC limits are reached.
- During 2024, an amendment was made to begin enrolling newly eligible employees on January 1, 2025 at 4% and increasing the enrollment percentage 1% annually through 2028.
- Prior to August 2024, the Company matched the first 6% of a participant’s contribution each payroll period at the rate of 50% for participants first employed by the Company prior to July 1, 2011.
- For participants first employed by the Company after June 30, 2011, the Company matched the first 7% of a participant’s contribution each payroll period at the rate of 100%.
- Beginning in August 2024, the Company will match all participants, regardless of hire date, up to 7% of a participant’s contribution each payroll period at the rate of 100%.
- The Company does not match catch-up and/or post-tax contributions.
- New employees are 100% vested in their contributions immediately upon participation and 100% vested in the Company’s matching contribution after completing 3 years of service.
- A participant will also become fully vested upon disability, death, permanent plant shut down, or when participant reaches retirement date or turns 65.
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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