MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN Contribution & Employer Match

How MILLER, CANFIELD, PADDOCK AND STONE PLC Supports Your Retirement Savings

MILLER, CANFIELD, PADDOCK AND STONE PLC provides retirement savings benefits through MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION 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.

MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN is $450,355.00

MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN is $6,704.00. 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.
429,088.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,704.00 in MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION 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.

MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN Total Employer Contribution and Match Rate

In 2024, MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN allocates $4,718,833.00 to match its employees’ contributions, providing an employer match rate of 120.73% of their contributions

MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN is approximately $8,206.00
Investing in this additonal $8,206.00 for 20 years would give you extra $525,226.00, 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.

MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN Contribution & Match Policy

MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN Plan Policies

MILLER, CANFIELD, PADDOCK & STONE P.L.C. 401(K) CAPITAL ACCUMULATION PLAN Contribution, Match and Other Plan Policies

  • Eligible employees may contribute up to 100 percent of eligible compensation.
  • Participants are automatically enrolled in the Plan upon meeting the eligibility requirements at 6 percent of eligible compensation.
  • A participant may terminate the election at any time during the year.
  • In no event may a plan participant in any one year contribute in excess of the dollar limitations contained in Section 402(g) of the Internal Revenue Code.
  • The Firm is permitted to contribute at the discretion of the board of directors.
  • The discretionary contribution is allocated to participants based on eligible compensation.
  • Participants are immediately 100 percent vested in their voluntary contributions and any income or loss thereon.
  • Participants are fully vested in the Firm’s discretionary contributions upon allocation to the participants’ accounts.

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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