RICHFIELD LIVING 403(B) PLAN Contribution & Employer Match
How RICHFIELD LIVING Supports Your Retirement Savings
RICHFIELD LIVING provides retirement savings benefits through RICHFIELD LIVING 403(B) 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.
RICHFIELD LIVING 403(B) PLAN Average Participant Retirement Account Value
RICHFIELD LIVING 403(B) PLAN Estimated Average Employee Contribution Amount
92,736.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,449.00 in RICHFIELD LIVING 403(B) PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in RICHFIELD LIVING 403(B) 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.
RICHFIELD LIVING 403(B) PLAN Total Employer Contribution and Match Rate
RICHFIELD LIVING 403(B) PLAN Estimated Average Employer Match
Investing in this additonal $606.00 for 20 years would give you extra $38,793.00, 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.
RICHFIELD LIVING 403(B) PLAN Contribution & Match Policy
RICHFIELD LIVING 403(B) PLAN Contribution, Match and Other Plan Policies
- Prior to Plan termination, participants were permitted to contribute pre-tax compensation, as defined in the Plan document, subject to certain Internal Revenue Code (IRC) limitations.
- Participants who had attained age 50 before the end of the plan year were eligible to make catch-up contributions.
- Participants could also contribute amounts representing distributions from other qualified plans and certain individual retirement accounts.
- The Company provided discretionary matching and discretionary non-elective contributions.
- The discretionary matching contribution for the year ended December 31, 2023 was 25 percent of the first 5 percent of compensation that a participant contributed to the Plan for the payroll periods.
- As of the termination date, all participants were 100% vested in their accounts.
- Prior to termination of the Plan, participants were immediately vested in their contributions plus actual earnings thereon.
- Vesting in the Company’s matching contribution portion of their accounts plus actual earnings thereon was based on years of continuous service.
- Effective January 1, 2023, participants employed as of January 1, 2023 were 100% vested in these contributions.
- A participant terminated as of January 1, 2023 vested on a 1-5 year grading scale, being 20% vested after one year, 40% vested after two years, 60% vested after three years, 80% after four years, and 100% after five years of credited service.
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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