GT TECHNOLOGIES 401(K) SAVINGS PLAN Contribution & Employer Match

How GT TECHNOLOGIES INC. Supports Your Retirement Savings

GT TECHNOLOGIES INC. provides retirement savings benefits through GT TECHNOLOGIES 401(K) 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.

GT TECHNOLOGIES 401(K) SAVINGS PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for GT TECHNOLOGIES 401(K) SAVINGS PLAN is $67,188.00

GT TECHNOLOGIES 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for GT TECHNOLOGIES 401(K) SAVINGS PLAN is $3,214.00. 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.
205,717.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,214.00 in GT TECHNOLOGIES 401(K) SAVINGS PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in GT TECHNOLOGIES 401(K) 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.

GT TECHNOLOGIES 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate

In 2024, GT TECHNOLOGIES 401(K) SAVINGS PLAN allocates $479,619.00 to match its employees’ contributions, providing an employer match rate of 40.22% of their contributions

GT TECHNOLOGIES 401(K) SAVINGS PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in GT TECHNOLOGIES 401(K) SAVINGS PLAN is approximately $1,462.00
Investing in this additonal $1,462.00 for 20 years would give you extra $93,584.00, 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.

GT TECHNOLOGIES 401(K) SAVINGS PLAN Contribution & Match Policy

GT TECHNOLOGIES 401(K) SAVINGS PLAN Plan Policies

GT TECHNOLOGIES 401(K) SAVINGS PLAN Contribution, Match and Other Plan Policies

  • Non-highly compensated employees may elect to contribute 1 percent to 90 percent of compensation on a pretax or Roth basis.
  • Highly compensated employees may elect to contribute up to 8 percent of compensation on a pretax or Roth basis.
  • All employees also may elect to contribute compensation on an after-tax basis.
  • The Plan includes automatic enrollment into the Plan at 2 percent, with annual increases of 1 percent up to a maximum of 8 percent unless the participant elects otherwise in accordance with the plan document.
  • For 2024, the employer matching contributions were 50 percent of the employee’s contributions, up to 8 percent, with the match capped at 4 percent of the employee’s eligible compensation.
  • Participants are immediately 100 percent vested in employee salary and rollover contributions and any income or loss thereon.
  • Vesting in the Company’s contribution portion of their accounts, plus actual earnings thereon, is based on years of service.
  • Participants vest in contributions made by the Company 20 percent after one year of service and 20 percent each successive year thereafter until they become fully vested after five years of service.
  • Participants who are in the employment of the plan sponsor at their normal retirement age of 65 become 100 percent vested in all contribution types.

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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