TURO RETIREMENT PLAN Contribution & Employer Match

How TURO INC. Supports Your Retirement Savings

TURO INC. provides retirement savings benefits through TURO 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.

TURO RETIREMENT PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for TURO RETIREMENT PLAN is $56,202.00

TURO RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for TURO RETIREMENT PLAN is $16,085.00. 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.
1,029,492.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 16,085.00 in TURO RETIREMENT PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in TURO 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.

TURO RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2024, TURO RETIREMENT PLAN allocates $1,231,478.00 to match its employees’ contributions, providing an employer match rate of 13.59% of their contributions

TURO RETIREMENT PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in TURO RETIREMENT PLAN is approximately $1,448.00
Investing in this additonal $1,448.00 for 20 years would give you extra $92,723.00, 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.

TURO RETIREMENT PLAN Contribution & Match Policy

TURO RETIREMENT PLAN Plan Policies

TURO RETIREMENT PLAN Contribution, Match and Other Plan Policies

  • Participants may contribute up to 90 percent of pre-tax or after-tax annual eligible compensation, as defined in the plan document, not to exceed certain dollar limits established by the IRC.
  • Certain participants, as defined in the plan document, are automatically enrolled at three percent of eligible compensation unless they affirmatively decline participation.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-out contributions.
  • The Plan provides for a discretionary Plan Sponsor matching contribution.
  • The Plan Sponsor’s matching contribution will be equal to a percentage of the participant’s elective deferrals.
  • For the Plan years ended December 31, 2024 and 2023, the Plan Sponsor made a matching contribution equal to 200 percent of the participant’s contribution up to $1,500.
  • This match may be suspended or discontinued at any time.
  • Participants are vested immediately in their elective contributions, plus actual earnings thereon.
  • Plan Sponsor matching contributions paid on the participant’s behalf are vested at 100 percent after one year of service.
  • Vesting in the Plan Sponsor’s non-elective contribution portion of their account plus earnings is based on years of service, as defined in the plan document, in accordance with the following schedule: Years of Service: NOT_FOUND – The vesting schedule table appears to be cut off in the provided text.

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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