NOV INC. 401(K) PLAN Contribution & Employer Match

How NOV INC. Supports Your Retirement Savings

NOV INC. provides retirement savings benefits through NOV 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.

NOV INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for NOV INC. 401(K) PLAN is $101,972.00

NOV INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for NOV INC. 401(K) PLAN is $4,259.00. 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.
272,586.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,259.00 in NOV INC. 401(K) PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in NOV 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.

NOV INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, NOV INC. 401(K) PLAN allocates $42,938,266.00 to match its employees’ contributions, providing an employer match rate of 61.42% of their contributions

NOV INC. 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in NOV INC. 401(K) PLAN is approximately $2,659.00
Investing in this additonal $2,659.00 for 20 years would give you extra $170,178.00, 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.

NOV INC. 401(K) PLAN Contribution & Match Policy

NOV INC. 401(K) PLAN Plan Policies

NOV INC. 401(K) PLAN Contribution, Match and Other Plan Policies

  • Pretax salary deferral contributions may range from 1% to 75% (less any after-tax contributions, required withholdings, or other elected deductions) of compensation, subject to certain Internal Revenue Service (IRS) limitations.
  • After-tax contributions may range from 1% to 18% of eligible compensation.
  • The Plan provides for the automatic enrollment and payroll deduction of 5% of a newly eligible employee’s compensation as soon as practical following 60 days after employment for most participants, except for certain employees covered by a collective bargaining agreement who may have a different percentage based on their collective bargaining agreement.
  • Participants age 50 and older may contribute additional pre-tax catch-up contributions, subject to IRS limitations.
  • The Company may also make a discretionary contribution to the Plan.
  • There were no discretionary contributions made for the year ended December 31, 2024.
  • Participants are immediately 100% vested in their participant and employer contributions and the related earnings that have been credited to their 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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