What is DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC.'s employer match?

In 2011, DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. reported $487,857 in employer contributions. That is about 50.7% of reported employee contributions.

How many participants are in DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC.?

At the end of 2011, DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. reported 357 plan participants.

What are DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC.'s total assets?

At the end of 2011, DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. reported total plan assets of $11,353,096.

What are the investment options in DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC.?

MyPlanIQ tracks the investment lineup for DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. on its investment options page: https://www.myplaniq.com/invest/planinvestments/defined-contribution-plan-for-new-peoples-bank-inc/

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Q: When was DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. established?

DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. was established in 1998.

DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC.

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Contribution & Savings

DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. Average Participant Retirement Account Value

In 2011, the average participant retirement account value for DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. is $31,801.00

DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. Estimated Average Employee Contribution Amount

In 2011, the estimated average employee contribution amount per participant for DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC. is $5,392.00. 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.
345,139.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,392.00 in DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC., assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

	Pretax and roth employee contributions	Employee and employer contributions combined	Catch-up contributions (in addition to the employee and employer combined limit, age 50 and over)
401(k) contribution limit for 2023	$22,500	$66,000	$7,500
401(k) contribution limit for 2024	$23,000	$69,000	$7,500

$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.

$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!

Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.

Keep researching DEFINED CONTRIBUTION PLAN FOR NEW PEOPLES BANK, INC.

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