SUMITOMO BAKELITE NA SAVINGS PLAN Contribution & Employer Match
How DUREZ CORPORATION Supports Your Retirement Savings
DUREZ CORPORATION provides retirement savings benefits through SUMITOMO BAKELITE NA 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.
SUMITOMO BAKELITE NA SAVINGS PLAN Average Participant Retirement Account Value
SUMITOMO BAKELITE NA SAVINGS PLAN Estimated Average Employee Contribution Amount
192,988.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,015.00 in SUMITOMO BAKELITE NA SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in SUMITOMO BAKELITE NA 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.
SUMITOMO BAKELITE NA SAVINGS PLAN Total Employer Contribution and Match Rate
SUMITOMO BAKELITE NA SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $1,011.00 for 20 years would give you extra $64,712.00, 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.
SUMITOMO BAKELITE NA SAVINGS PLAN Contribution & Match Policy
SUMITOMO BAKELITE NA SAVINGS PLAN Contribution, Match and Other Plan Policies
- Each year, participants may elect to contribute a portion of their compensation not to exceed limits established by the Internal Revenue Code.
- Participants who have attained age 50 before the end of the plan year are eligible to make catch-up contributions.
- In addition to or instead of pretax contributions, participants can elect to make Roth elective deferrals.
- Rollover contributions from other qualified plans are also permitted at the discretion of the plan administrator.
- The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan.
- Automatically enrolled participants have their deferral rate set initially at 3% of eligible compensation and then the deferral rate increases annually by 1% until reaching 10%, subject to provisions listed in the plan document.
- For all salaried, non-union employees: Non-maximum employee deferral of 6% of eligible compensation were provided during the plan year 2024 and 2023.
- For all eligible employees of Durez Corporation Kenton Union: Non-maximum employee deferral of 6% of eligible compensation were provided during the years 2024 and 2023.
- For all eligible employees of Durez Corporation Niagara Falls Union: Effective January 1, 2022, Niagara Falls Union Employees with an original hire date on or prior to April 13, 2011 who have 50 or fewer points as of the beginning of the plan year or Niagara Falls Union Employees with a hire date after April 13, 2011, will have a flat percentage match of 100% of the first 3% of deferral based on eligible wages.
- Non-discretionary matching contributions were provided based on eligible wages.
- For tiered Match on the 4th, 5th, and 6th percent of eligible contributions: a) 50% of the next 3% of compensation for employees with 50 or fewer than 50 points.
- b) 75% of the next 3% of compensation for employees with more than 50 but less than 80 points.
- c) 100% of the next 3% of compensation for employees with 80 or more points.
- Non-elective contributions equal to 5% of base pay for eligible employees were given during the year 2024 and 2023.
- For all eligible hourly employees of Sumitomo Bakelite North America, Inc.
- Manchester Union: Non-discretionary matching contributions of 50% of the first 3% of the employees’ compensation provided for the year ended December 31, 2024 and 2023.
- For employees of Vaupell Holding Inc.
- and subsidiaries: The Company provided matching contributions of 50% of the deferral up to 6% of total compensation.
- Vesting schedule:
- Less than 1 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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