MILLER PAINT 401(K) SAVINGS PLAN Contribution & Employer Match
How MILLER PAINT CO. Supports Your Retirement Savings
MILLER PAINT CO. provides retirement savings benefits through MILLER PAINT 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.
MILLER PAINT 401(K) SAVINGS PLAN Average Participant Retirement Account Value
MILLER PAINT 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount
209,548.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,274.00 in MILLER PAINT 401(K) SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in MILLER PAINT 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.
MILLER PAINT 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate
MILLER PAINT 401(K) SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $1,007.00 for 20 years would give you extra $64,510.00, 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 PAINT 401(K) SAVINGS PLAN Contribution & Match Policy
MILLER PAINT 401(K) SAVINGS PLAN Contribution, Match and Other Plan Policies
- Participants may contribute up to 100% of their annual compensation to the Plan but not to exceed $23,000 and $22,500, in 2024 and 2023, respectively, as prescribed by the Internal Revenue Code (IRC).
- Participants aged 50 and over may also make additional catch-up contributions.
- The Plan permits rollover contributions from other qualified plans, Sec.
- 457 plans, and certain IRA accounts and Roth after-tax contributions.
- Effective January 1, 2024, the Plan was amended to include an eligible automatic contribution arrangement whereby eligible participants will be automatically enrolled in the Plan at a deferral rate of 5% of compensation unless they affirmatively elect not to participate in the Plan or elect to contribute a lower or higher amount.
- The Company made 2% discretionary employer matching contributions totaling $398,153 and $268,002 in 2024 and 2023, respectively.
- There were no discretionary nonelective contributions made in 2024 or 2023.
- Vesting schedule:
- Less than 2 years: 0%
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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