VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN Contribution & Employer Match

How VOLVO GROUP NORTH AMERICA, LLC Supports Your Retirement Savings

VOLVO GROUP NORTH AMERICA, LLC provides retirement savings benefits through VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX 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.

VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN is $194,633.00

VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN is $16,131.00. 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.
1,032,431.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 16,131.00 in VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX 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.

VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN Total Employer Contribution and Match Rate

In 2024, VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN allocates $65,697,523.00 to match its employees’ contributions, providing an employer match rate of 108.94% of their contributions

VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN is approximately $8,786.00
Investing in this additonal $8,786.00 for 20 years would give you extra $562,343.00, 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.

VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN Contribution & Match Policy

VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN Plan Policies

VOLVO GROUP NORTH AMERICA VOLUNTARY INVESTMENT PRETAX PLAN Contribution, Match and Other Plan Policies

  • Participants may elect to contribute to the Plan by deferring 1% to 75% of their compensation during the Plan year, up to the maximum amount allowable in accordance with Internal Revenue Code (IRC) Section 402(g).
  • Employees are automatically entered into the Plan 30 days after becoming eligible with a 3% deferral contribution rate (increasing to 5% for any hired or rehired employee on or after January 1, 2021) if they do not expressly elect either to contribute an amount other than 3% or to opt out of the Plan.
  • Effective January 1, 2022, the Plan allowed for a special automatic enrollment whereby any employee not enrolled or any participant deferring less than 5% will be enrolled in the Plan at a 5% deferral rate if they no do expressly elect either to contribute an amount other than 5% or to opt out of the Plan.
  • Effective January 1, 2023, the Plan will include an auto escalation clause whereby a participants’ deferral rate will increase 1% on January 1, 2023, and then will increase 1% of April 1 of each subsequent year until the participant’s deferral rate reaches 10%.
  • The Plan also allows for Roth contributions to be made into the Plan.
  • Effective January 1, 2022, for all eligible employees, the Employer match will be 100% of the employees’ contributions up to 5% of their compensation during the Plan year.
  • Participants are immediately vested in their contributions plus actual earnings thereon.
  • Vesting in the Company’s contribution portion of their accounts plus actual earnings thereon is based on years of continuous service.
  • A participant vests 20% per year and is 100% vested after five years of vesting service.
  • Effective January 1, 2022, a participant vests one-third per year and is 100% vested after three years of vesting service.
  • Notwithstanding the above, a participant is fully vested upon reaching normal retirement age, upon death or upon permanent disability.

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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