RESOURCE BANK PROFIT SHARING PLAN AND TRUST Contribution & Employer Match
How RESOURCE BANK, N.A. Supports Your Retirement Savings
RESOURCE BANK, N.A. provides retirement savings benefits through RESOURCE BANK PROFIT SHARING PLAN AND TRUST. 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.
RESOURCE BANK PROFIT SHARING PLAN AND TRUST Average Participant Retirement Account Value
RESOURCE BANK PROFIT SHARING PLAN AND TRUST Estimated Average Employee Contribution Amount
311,246.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,863.00 in RESOURCE BANK PROFIT SHARING PLAN AND TRUST, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in RESOURCE BANK PROFIT SHARING PLAN AND TRUST
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.
RESOURCE BANK PROFIT SHARING PLAN AND TRUST Total Employer Contribution and Match Rate
RESOURCE BANK PROFIT SHARING PLAN AND TRUST Estimated Average Employer Match
Investing in this additonal $2,671.00 for 20 years would give you extra $170,971.00, 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.
RESOURCE BANK PROFIT SHARING PLAN AND TRUST Contribution & Match Policy
RESOURCE BANK PROFIT SHARING PLAN AND TRUST Contribution, Match and Other Plan Policies
- The Plan provides for employee salary deferral contributions up to 100 percent of annual compensation subject to maximum tax-deferred limitations established by the Internal Revenue Code.
- The Bank may make matching contributions equal to a discretionary percentage, to be determined by the Bank’s board of directors.
- For the year ended December 31, 2024, the matching contribution was 50 percent of the first 2 percent of eligible compensation deferred.
- Vesting schedule:
- Less than 2 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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