GRAYMONT (PA) UNION 401(K) PLAN Contribution & Employer Match

How GRAYMONT (PA) INC. Supports Your Retirement Savings

GRAYMONT (PA) INC. provides retirement savings benefits through GRAYMONT (PA) UNION 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.

GRAYMONT (PA) UNION 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for GRAYMONT (PA) UNION 401(K) PLAN is $72,352.00

GRAYMONT (PA) UNION 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for GRAYMONT (PA) UNION 401(K) PLAN is $4,841.00. 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.
309,882.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,841.00 in GRAYMONT (PA) UNION 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in GRAYMONT (PA) UNION 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.

GRAYMONT (PA) UNION 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, GRAYMONT (PA) UNION 401(K) PLAN allocates $308,837.00 to match its employees’ contributions, providing an employer match rate of 45.72% of their contributions

GRAYMONT (PA) UNION 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in GRAYMONT (PA) UNION 401(K) PLAN is approximately $2,159.00
Investing in this additonal $2,159.00 for 20 years would give you extra $138,220.00, 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.

GRAYMONT (PA) UNION 401(K) PLAN Contribution & Match Policy

GRAYMONT (PA) UNION 401(K) PLAN Plan Policies

GRAYMONT (PA) UNION 401(K) PLAN Contribution, Match and Other Plan Policies

  • Participants can contribute up to the lesser of 75% of eligible wages or limits established by the Internal Revenue Service (IRS).
  • The Plan contains an automatic enrollment policy which starts participants’ contributions at 6% of eligible employee compensation increasing 1% annually up to 10% of eligible compensation unless the employee declines in writing.
  • The Company will match 25% of each participant’s contribution up to 6% of the participant’s compensation for employees hired prior to November 1, 2014, and 50% of each participant’s contribution up to 6% of the participant’s compensation for employees hired after October 31, 2014.
  • Non-elective employer contributions: For each contribution period, the Company contributes 3% of each eligible participant’s compensation for employees hired after October 31, 2014.
  • Vesting schedule: Year 1: 0% Year 2: 40% Year 3: 60% Year 4: 80% Year 5: 100% Participants in the Plan from the Teamsters Local Union No.
  • 117 Affiliated with the International Brotherhood of Teamsters follow a two year vesting schedule for Company contributions with 0% vested until reaching 2 years of service at which time participants are 100% vested.
  • Participants who become disabled while employed by the Companies or a related employer will become 100% vested in their account.
  • Participants who reach normal retirement age as defined by the Plan become 100% vested in their benefits.

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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