VELCO 401(K) PLAN Contribution & Employer Match

How VERMONT ELECTRIC POWER COMPANY, INC. Supports Your Retirement Savings

VERMONT ELECTRIC POWER COMPANY, INC. provides retirement savings benefits through VELCO 401(K) 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.

VELCO 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for VELCO 401(K) PLAN is $311,475.00

VELCO 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for VELCO 401(K) PLAN is $21,761.00. 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.
1,392,745.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 21,761.00 in VELCO 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in VELCO 401(K) 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.

VELCO 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, VELCO 401(K) PLAN allocates $1,259,092.00 to match its employees’ contributions, providing an employer match rate of 53.33% of their contributions

VELCO 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in VELCO 401(K) PLAN is approximately $5,802.00
Investing in this additonal $5,802.00 for 20 years would give you extra $371,345.00, 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.

VELCO 401(K) PLAN Contribution & Match Policy

VELCO 401(K) PLAN Plan Policies

VELCO 401(K) PLAN Contribution, Match and Other Plan Policies

  • Eligible employees are allowed to contribute, through payroll deductions, up to 60% of pre-tax annual compensation not to exceed the Internal Revenue Service’s ("IRS") established limits.
  • The Plan has an auto enroll feature where eligible employees are auto-enrolled into the Plan with a 6% deferral rate unless the employee makes a contrary election or elects to opt out.
  • Employees can also make after-tax roth contributions.
  • Employees attaining 50 years of age or older before the end of the year are allowed to make catch-up contributions not to exceed IRS established limits.
  • Participants are also permitted to make rollover contributions to the Plan.
  • The Plan provides for employer matching contributions in an amount equal to 100% of employee deferral contributions, which is subject to a maximum of 4.25% of eligible compensation.
  • For employees hired on or after January 1, 2008, the Plan provides for a profit-sharing contribution in the amount of 3.5% of eligible base salary.

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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