SYNCHRONY FINANCIAL MY SAVINGS PLAN Contribution & Employer Match
How SYNCHRONY FINANCIAL Supports Your Retirement Savings
SYNCHRONY FINANCIAL provides retirement savings benefits through SYNCHRONY FINANCIAL MY 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.
SYNCHRONY FINANCIAL MY SAVINGS PLAN Average Participant Retirement Account Value
SYNCHRONY FINANCIAL MY SAVINGS PLAN Estimated Average Employee Contribution Amount
458,702.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,167.00 in SYNCHRONY FINANCIAL MY SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in SYNCHRONY FINANCIAL MY 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.
SYNCHRONY FINANCIAL MY SAVINGS PLAN Total Employer Contribution and Match Rate
SYNCHRONY FINANCIAL MY SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $6,783.00 for 20 years would give you extra $434,115.00, 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.
SYNCHRONY FINANCIAL MY SAVINGS PLAN Contribution & Match Policy
SYNCHRONY FINANCIAL MY SAVINGS PLAN Contribution, Match and Other Plan Policies
- Each year, participants may contribute up to 70% of their annual compensation, as defined by the Plan, on a pretax or Roth (after-tax) basis, subject to certain Internal Revenue Code (IRC) limitations.
- An employee is automatically enrolled to defer 4% of their compensation as of the date in which they become a participant in the Plan, unless a different percentage is chose.
- The deferral percentage will automatically increase on January 1st by 2% up to a maximum of 10%.
- For certain participants, the Company contributes a matching contribution equal to 100% of 1% of compensation that those participants contribute, and 50% of the contributions that exceed the 1% of compensation but do not exceed the 6% of compensation contributed, for a maximum of 3.5% of compensation.
- For certain participants, the Company contributes a matching contribution equal to 50% of the first 4% of compensation that a participant contributes to the Plan.
- The Company will make an annual nonelective contribution of 3% of eligible compensation for certain participants who meet certain eligibility requirements.
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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