TRACTOR & EQUIPMENT CO. 401(K) PL. Contribution & Employer Match

How TRACTOR & EQUIPMENT COMPANY Supports Your Retirement Savings

TRACTOR & EQUIPMENT COMPANY provides retirement savings benefits through TRACTOR & EQUIPMENT CO. 401(K) PL.. 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.

TRACTOR & EQUIPMENT CO. 401(K) PL. Average Participant Retirement Account Value

In 2024, the average participant retirement account value for TRACTOR & EQUIPMENT CO. 401(K) PL. is $81,922.00

TRACTOR & EQUIPMENT CO. 401(K) PL. Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for TRACTOR & EQUIPMENT CO. 401(K) PL. is $6,669.00. 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.
426,835.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,669.00 in TRACTOR & EQUIPMENT CO. 401(K) PL., assuming a 10%* annual return.

* Data are from public filings.

Employer Match in TRACTOR & EQUIPMENT CO. 401(K) PL.

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.

TRACTOR & EQUIPMENT CO. 401(K) PL. Total Employer Contribution and Match Rate

In 2024, TRACTOR & EQUIPMENT CO. 401(K) PL. allocates $1,709,155.00 to match its employees’ contributions, providing an employer match rate of 50.05% of their contributions

TRACTOR & EQUIPMENT CO. 401(K) PL. Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in TRACTOR & EQUIPMENT CO. 401(K) PL. is approximately $1,669.00
Investing in this additonal $1,669.00 for 20 years would give you extra $106,822.00, 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.

TRACTOR & EQUIPMENT CO. 401(K) PL. Contribution & Match Policy

TRACTOR & EQUIPMENT CO. 401(K) PL. Plan Policies

TRACTOR & EQUIPMENT CO. 401(K) PL. Contribution, Match and Other Plan Policies

  • Each year, participants may contribute up to 100% of pretax annual compensation, as defined by the Plan, subject to Internal Revenue Code (IRC) limitations.
  • Participants who have attained age 50 before the end of the Plan Year are eligible to make catch-up contributions.
  • The Company made a matching contribution in an amount equal to 100% of employee deferrals up to 3% for the year ended December 31, 2024.
  • Prior to January 1, 2008, participants were immediately vested in the Company’s contributions. Eligible employees who were employed prior to August 31, 2008, are fully vested in all contributions. Participants are immediately vested in any qualified non-elective contributions made by the Company. Effective January 1, 2008, vesting in the Company’s matching and discretionary non-elective contribution portion of their accounts is based on years of continuous service (as defined in the Plan) as follows:
  • Less than 2 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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