SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN Contribution & Employer Match

How SCHMITZ READY MIX, INC. Supports Your Retirement Savings

SCHMITZ READY MIX, INC. provides retirement savings benefits through SCHMITZ READY MIX, INC. 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.

SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN is $73,135.00

SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN is $9,703.00. 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.
620,998.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 9,703.00 in SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in SCHMITZ READY MIX, INC. 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.

SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate

In 2024, SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN allocates $303,451.00 to match its employees’ contributions, providing an employer match rate of 38.14% of their contributions

SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN is approximately $1,850.00
Investing in this additonal $1,850.00 for 20 years would give you extra $118,419.00, 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.

SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN Contribution & Match Policy

SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN Plan Policies

SCHMITZ READY MIX, INC. 401(K) SAVINGS PLAN Contribution, Match and Other Plan Policies

  • A participant may elect to make pre-tax contributions up to the maximum percentage allowable not exceeding the limits determined by the Internal Revenue Service (IRS).
  • Participants may designate all or a portion of their deferral contributions as after-tax contributions into a Roth account.
  • Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
  • The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan.
  • Automatically enrolled participants will have their deferral rate set at 6% of eligible compensation.
  • There were $303,451 discretionary matching contributions to the Plan during the year ended December 31, 2024.
  • The employer can make discretionary matching contributions during the Plan year or after the Plan year ends.
  • Any matching contribution will be determined as a percentage of any salary deferrals made during each payroll period.
  • Participants direct the investment of all contributions into various investment options offered by the Plan.
  • Any contributions made in excess of 6% of plan compensation will not receive a matching contribution.
  • Participant contributions, rollover contributions and related investment earnings are immediately vested. A participant is 100% vested in employer contributions upon reaching normal retirement age, or upon death or disability. Vesting in the Company’s match contribution portion and the profit sharing portion of their accounts is based on the following table: Years of Service
  • Less than 2 years: 0%
  • 6+ years: 100%

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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