WOOD COUNTY HOSPITAL 403(B) PLAN Contribution & Employer Match
How WOOD COUNTY HOSPITAL ASSOCIATION Supports Your Retirement Savings
WOOD COUNTY HOSPITAL ASSOCIATION provides retirement savings benefits through WOOD COUNTY HOSPITAL 403(B) 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.
WOOD COUNTY HOSPITAL 403(B) PLAN Average Participant Retirement Account Value
WOOD COUNTY HOSPITAL 403(B) PLAN Estimated Average Employee Contribution Amount
171,538.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,680.00 in WOOD COUNTY HOSPITAL 403(B) PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in WOOD COUNTY HOSPITAL 403(B) 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.
WOOD COUNTY HOSPITAL 403(B) PLAN Total Employer Contribution and Match Rate
WOOD COUNTY HOSPITAL 403(B) PLAN Estimated Average Employer Match
Investing in this additonal $643.00 for 20 years would give you extra $41,181.00, 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.
WOOD COUNTY HOSPITAL 403(B) PLAN Contribution & Match Policy
WOOD COUNTY HOSPITAL 403(B) PLAN Contribution, Match and Other Plan Policies
- Each year, participants may contribute up to a maximum percent of pretax annual compensation, as defined in the Plan.
- Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
- The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan.
- Automatically enrolled participants have their deferral rate set at 2 percent of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant.
- Automatic enrollment includes an automatic 1 percent annual increase in the participant’s deferral rate up to 4 percent.
- For 2024 and 2023, the Plan Sponsor elected to contribute 50 percent of the first 4 percent of base compensation that a participant contributes to the plan.
- Vesting is based on years of service.
- Participants are immediately vested in their contributions plus actual earnings thereon.
- A participant is 100 percent vested in employer matching contributions after three years of credited service.
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:
| 2024 | 2025 | |
|---|---|---|
| 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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