DUKE ENERGY RETIREMENT SAVINGS PLAN Contribution & Employer Match
How DUKE ENERGY CORPORATION Supports Your Retirement Savings
DUKE ENERGY CORPORATION provides retirement savings benefits through DUKE ENERGY RETIREMENT SAVINGS 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.
DUKE ENERGY RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value
DUKE ENERGY RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount
604,829.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 9,450.00 in DUKE ENERGY RETIREMENT SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in DUKE ENERGY RETIREMENT SAVINGS 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.
DUKE ENERGY RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate
DUKE ENERGY RETIREMENT SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $7,051.00 for 20 years would give you extra $451,305.00, 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.
DUKE ENERGY RETIREMENT SAVINGS PLAN Contribution & Match Policy
DUKE ENERGY RETIREMENT SAVINGS PLAN Contribution, Match and Other Plan Policies
- Participants may elect to contribute (subject to certain limitations) in the form of pretax, Roth 401(k), and/or after-tax contributions up to 75% of eligible earnings per pay period without regard to years of service.
- Participants age 50 or older by the end of the year may contribute an additional pretax and/or Roth 401(k) contribution amount over and above the IRC limits each year.
- For 2024, the IRC allowed participants age 50 or older to contribute up to $7,500 over and above the $23,000 pretax and/or Roth 401(k) contribution limit.
- The Participating Company generally matches 100% of the first 6% of the employee’s eligible compensation that is contributed to the Plan in the form of pretax and/or Roth 401(k) contributions.
- A different matching contribution formula may apply to certain groups of employees covered by a collective bargaining agreement.
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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