AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION PLAN Contribution & Employer Match
How AXEL JOHNSON INC. Supports Your Retirement Savings
AXEL JOHNSON INC. provides retirement savings benefits through AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION 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.
AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION PLAN Average Participant Retirement Account Value
AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION PLAN Estimated Average Employee Contribution Amount
276,882.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,326.00 in AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION 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.
AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION PLAN Total Employer Contribution and Match Rate
AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION PLAN Estimated Average Employer Match
Investing in this additonal $3,478.00 for 20 years would give you extra $222,631.00, 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.
AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION PLAN Contribution & Match Policy
AXEL JOHNSON INC. THRIFT AND DEFINED CONTRIBUTION PLAN Contribution, Match and Other Plan Policies
- A minimum 2% contribution is required and additional contributions can be made up to 70% (less if certain Internal Revenue Service ("IRS") or plan limits are reached) of the participant’s eligible compensation, as defined in the Plan document.
- An automatic enrollment feature applies to Eligible Employees of Kinetico Incorporated hired on or after December 1, 2006 and to Eligible Employees hired by each other Participating Company on or after December 1, 2010.
- Under such feature, each such Eligible Employee shall be automatically enrolled in the Plan with a Pre-Tax Contribution percentage of: (i) 3% of Eligible Compensation for Eligible Employees hired prior to July 1, 2017; and (ii) 6% of Eligible Compensation for Eligible Employees hired on or after July 1, 2017.
- Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
- The Employer contributes a matching contribution of 60% on the first 6% of participant pre-tax and/or Roth contributions.
- Participants are immediately vested in their pre-tax, Roth and after-tax contributions.
- All employees are 100% vested in the Employer matching and DC contributions, except employees of Parkson.
- At Parkson, the vesting schedule is as follows: Employer Matching Contributions – If a participant terminates service with the Employer prior to attaining two years of Plan participation or three years of service to Parkson, 100% of all Employer contributions will be forfeited.
- DC Contribution – A participant vests 20% for each year of service and is 100% invested in the DC contribution after five years of service.
- Participants terminating service with Parkson under all other circumstances, including death, retirement and total disability, will be entitled to receive the full value of their vested employer contributions.
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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