CANOPY TAX 401(K) PLAN Contribution & Employer Match

How CANOPY TAX, INC. Supports Your Retirement Savings

CANOPY TAX, INC. provides retirement savings benefits through CANOPY TAX 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.

CANOPY TAX 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for CANOPY TAX 401(K) PLAN is $22,897.00

CANOPY TAX 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for CANOPY TAX 401(K) PLAN is $4,038.00. 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.
258,445.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,038.00 in CANOPY TAX 401(K) PLAN, assuming a 10%* annual return.

*Data from public filings (2024) 465164530-001

Employer Match in CANOPY TAX 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.

CANOPY TAX 401(K) PLAN Total Employer Contribution and Match Rate

In 2024, CANOPY TAX 401(K) PLAN allocates $556,302.00 to match its employees’ contributions, providing an employer match rate of 57.76% of their contributions

CANOPY TAX 401(K) PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in CANOPY TAX 401(K) PLAN is approximately $2,115.00
Investing in this additonal $2,115.00 for 20 years would give you extra $135,373.00, assuming a 10% annual return.

*Data from public filings (2024) 465164530-001

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.

CANOPY TAX 401(K) PLAN Contribution & Match Policy

CANOPY TAX 401(K) PLAN Plan Policies

CANOPY TAX 401(K) PLAN Contribution, Match and Other Plan Policies

  • Participants may elect to contribute a percentage of their eligible compensation, as defined by the Plan document, to the Plan each year, subject to the limitations of the IRC.
  • 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.
  • Automatically enrolled participants have their deferral rate set at 3% of eligible compensation and their contributions are invested in a designated balanced fund until changed by the participant.
  • Participants who have attained age 50 before the end of the year are eligible to make catch-up contributions.
  • The Company may make a discretionary matching contribution to each participant’s account equal to a uniform percentage of each tier of each participant’s contribution.
  • Each year, the Company determines the amount of the discretionary percentage.
  • During the year ended December 31, 2024, the Company paid a discretionary match equal to 100% of the participants contributions up to the first 3% of participant contributions.
  • Participants are vested immediately in their contributions, plus actual earnings thereon.
  • Vesting in the Company’s contribution portion of their accounts is also vested immediately.

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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Money headlines from this plan

These filing-based headlines surface the numbers most likely to affect a participant decision. Verify current plan documents before acting.

  • Average plan assets per reported participant: $22,897
    Based on the 2024 public filing. This is a plan-wide average, not a personal retirement target. Calculate a personal retirement target.
  • Employer contributions per reported participant: $2,115
    Based on the 2024 public filing. This reported average can include match, profit sharing, or other employer contributions. Review the match and contribution details.
  • Employee contributions per reported participant: $3,662
    Based on the 2024 public filing. Individual contribution rates vary with pay, eligibility, and participation. Model a contribution increase.
  • Reported administrative expenses as a share of assets: 0.26%
    Based on the 2024 public filing. This plan-level administrative ratio does not replace current fund expense ratios or participant fee disclosures. Estimate the long-term impact of fees.

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