WALLACE AUTOMOTIVE GROUP 401(K) PLAN Contribution & Employer Match

How WILLIAM WALLACE ENTERPRISES, INC. Supports Your Retirement Savings

WILLIAM WALLACE ENTERPRISES, INC. provides retirement savings benefits through WALLACE AUTOMOTIVE GROUP 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.

WALLACE AUTOMOTIVE GROUP 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for WALLACE AUTOMOTIVE GROUP 401(K) PLAN is $24,398.00

WALLACE AUTOMOTIVE GROUP 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for WALLACE AUTOMOTIVE GROUP 401(K) PLAN is $3,679.00. 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.
235,482.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,679.00 in WALLACE AUTOMOTIVE GROUP 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in WALLACE AUTOMOTIVE GROUP 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.

* 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.

WALLACE AUTOMOTIVE GROUP 401(K) PLAN Contribution & Match Policy

WALLACE AUTOMOTIVE GROUP 401(K) PLAN Plan Policies

WALLACE AUTOMOTIVE GROUP 401(K) PLAN Contribution, Match and Other Plan Policies

  • Participants may elect to contribute up to 100% of compensation to the Plan through salary reduction.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • Employees are automatically enrolled at a 3% deferral rate upon becoming eligible to participate in the Plan and they may elect to change or discontinue deferrals at any time.
  • For those employees automatically enrolled, the Company can refund deferrals within 90 days of the first automatic deferral provided the employee notifies the Company within a reasonable period prior to the end of the 90-day period.
  • Participants subject to automatic enrollment are also subject to automatic annual deferral increases of 1% each year, beginning on January 1 of the second year after the initial automatic enrollment became effective.
  • The Company may make discretionary matching contributions and / or a discretionary profit-sharing contribution.
  • There were no employer discretionary contributions for 2024.
  • Vesting schedule:
  • Less than 1 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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