NORTH STATE GROCERY, INC. 401(K) PLAN Contribution & Employer Match

How NORTH STATE GROCERY, INC. Supports Your Retirement Savings

NORTH STATE GROCERY, INC. provides retirement savings benefits through NORTH STATE GROCERY, INC. 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.

NORTH STATE GROCERY, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for NORTH STATE GROCERY, INC. 401(K) PLAN is $21,523.00

NORTH STATE GROCERY, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for NORTH STATE GROCERY, INC. 401(K) PLAN is $1,820.00. 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.
116,484.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,820.00 in NORTH STATE GROCERY, INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in NORTH STATE GROCERY, INC. 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.

* 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.

NORTH STATE GROCERY, INC. 401(K) PLAN Contribution & Match Policy

NORTH STATE GROCERY, INC. 401(K) PLAN Plan Policies

NORTH STATE GROCERY, INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Each year, participants may elect to contribute a portion of their compensation, subject to certain maximum limitations imposed by Section 402(g) of the IRC.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • Roth salary deferrals are not permitted.
  • The Plan has an automatic enrollment provision (2% salary deferral with 1% increases annually on the first day of July until reaching a maximum of 4%) whereby employees must elect out of the Plan if they do not wish to participate.
  • The Company makes a safe harbor matching contribution of 100% of the participant’s deferral up to 4% of the employee’s eligible compensation.
  • Participants are immediately 100% vested in their elective deferrals including catch-up contributions, rollover contributions from other plans, and actual earnings thereon.
  • Participants are always 100% vested in their safe harbor and discretionary matching contributions.
  • Participant vest in discretionary profit sharing contributions on a 6-year graded vesting schedule as follows: Service Years Safe Harbor Matching Profit Sharing < 1 100% 100% 0% 1 100% 100% 0% 2 100% 100% 20% 3 100% 100% 40% 4 100% 100% 60% 5 100% 100% 80% 6 100% 100% 100% If participants are employed on or after their Normal Retirement Age or if they terminate employment on account of death or disability, they are 100% vested in their Company matching and profit-sharing contributions.

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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