GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 403(B) PLAN Contribution & Employer Match
How GEORGIA LEGAL SERVICES PROGRAM Supports Your Retirement Savings
GEORGIA LEGAL SERVICES PROGRAM provides retirement savings benefits through GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 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.
GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 403(B) PLAN Average Participant Retirement Account Value
GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 403(B) PLAN Estimated Average Employee Contribution Amount
120,520.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,883.00 in GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 403(B) PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 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.
GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 403(B) PLAN Total Employer Contribution and Match Rate
GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 403(B) PLAN Estimated Average Employer Match
Investing in this additonal $1,063.00 for 20 years would give you extra $68,050.00, 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.
GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 403(B) PLAN Contribution & Match Policy
GEORGIA LEGAL SERVICES PROGRAM BARGAINING UNIT EMPLOYEES 403(B) PLAN Contribution, Match and Other Plan Policies
- Each year, participants may contribute a percentage of pretax annual compensation as defined by the Plan.
- Employees are automatically enrolled in the Plan at a rate of 3% of eligible compensation.
- Participants may elect to opt out of automatic enrollment or change the amount being deducted from their compensation.
- Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions as permitted by law for defined contribution retirement plans; eligible contributing participants may also be permitted to make additional catch-up contributions specific to IRC Section 403(b) plans if they have at least 15 years of service with qualified organizations.
- Under the terms of the agreement with the Union, for the year ended December 31, 2024, the Sponsor matched employee contributions dollar for dollar up to a maximum of $3,000.
- Additionally, employees with ten or more years of service with the Sponsor received an additional employer match of one dollar for every three dollars of employee contributions, up to a maximum of $1,000 (for a combined maximum employer contribution of $4,000).
- Participants are immediately vested in their voluntary contributions plus actual earnings thereon.
- Vesting in the Sponsor’s matching contribution portion of their accounts is based on years of continuous service.
- A participant is 100% vested in those contributions after two 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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