VME 401(K) PLAN Contribution & Employer Match

How VERNOR MATERIAL & EQUIPMENT COMPANY, INC. Supports Your Retirement Savings

VERNOR MATERIAL & EQUIPMENT COMPANY, INC. provides retirement savings benefits through VME 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.

VME 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for VME 401(K) PLAN is $34,085.00

VME 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for VME 401(K) PLAN is $2,223.00. 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.
142,317.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,223.00 in VME 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in VME 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.

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

In 2024, VME 401(K) PLAN allocates $275,568.00 to match its employees’ contributions, providing an employer match rate of 56.33% of their contributions

VME 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in VME 401(K) PLAN is approximately $1,208.00
Investing in this additonal $1,208.00 for 20 years would give you extra $77,352.00, 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.

VME 401(K) PLAN Contribution & Match Policy

VME 401(K) PLAN Plan Policies

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

  • The Plan specifies that elective deferrals will be allowed in any plan year up to the maximum percentage of plan compensation and dollar amount allowed by the Internal Revenue Service.
  • Roth elective deferrals are also permitted.
  • In addition, participants who are age 50 at the end of any calendar year may make "catch-up" contributions up to the annual maximum established by the Internal Revenue Service during any plan year.
  • Effective May 1, 2019, the Company adopted a safe harbor employer matching contribution with employee contributions of 3% matched at 100% and employee contributions greater than 3% up to 5% matched at 50%.
  • Employer matching contributions of $281,969 were paid in 2024 under these programs.
  • Participants are immediately 100% vested in the contributions they make to the Plan including salary deferrals and rollover contributions, plus actual earnings thereon.
  • Except in the case of severance from employment with the Company due to death, retirement or permanent disability, all Company discretionary contributions plus actual earnings are vested subject to a 6 year schedule as follows: Years of Service Vesting Percentage 1 or less 0% 2 20% 3 40% 4 60% 5 80% 6 100%

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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