THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN Contribution & Employer Match

How THE MANITOWOC COMPANY, INC. Supports Your Retirement Savings

THE MANITOWOC COMPANY, INC. provides retirement savings benefits through THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT 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.

THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN is $138,247.00

THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN is $6,077.00. 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.
388,991.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,077.00 in THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT 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.

THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2024, THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN allocates $9,272,082.00 to match its employees’ contributions, providing an employer match rate of 71.39% of their contributions

THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN is approximately $3,960.00
Investing in this additonal $3,960.00 for 20 years would give you extra $253,487.00, 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 MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN Contribution & Match Policy

THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN Plan Policies

THE MANITOWOC COMPANY, INC. 401(K) RETIREMENT PLAN Contribution, Match and Other Plan Policies

  • Employees are automatically entered into the Plan after meeting the applicable eligibility requirements, with a deferral of 5% of their compensation unless they affirmatively elect an alternative deferral amount or elect not to participate in the Plan.
  • Participants may elect to change this deferral to an alternative amount by electing a deferral between 0% to 75% of eligible compensation up to a maximum contribution subject to limitations established by the Internal Revenue Service (IRS).
  • Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
  • The Company contributes to non-union employees a matching contribution at the safe harbor match of 100% of the first 3% and 50% of the next 2% of contributed pay, which vests immediately.
  • In addition, the Company contributes to certain union employees a matching contribution at the safe harbor match of 100% of the first 3% of contributed pay.
  • The Company also provides an annual non-elective contribution to union employees and may also provide a discretionary profit-sharing contribution to non-union employees.
  • Vesting schedule: All employee contributions: immediately vested Company matching contributions: immediately vested Discretionary profit-sharing and non-elective contributions: 1 year: 20% 2 years: 40% 3 years: 60% 4 years: 80% 5+ years: 100% Participants who have not attained 5 years of service and leave the Company because of reaching age 65, or due to disability, or death, are considered to be 100% vested.

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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