What is MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN's employer match?

In 2023, MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN reported $1,628,738 in employer contributions. That is about 93.6% of reported employee contributions.

How many participants are in MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN?

At the end of 2023, MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN reported 978 plan participants.

What are MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN's total assets?

At the end of 2023, MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN reported total plan assets of $28,774,832.

When was MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN established?

MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN was established in 1993.

What are the investment options in MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN?

MyPlanIQ tracks the investment lineup for MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/mcdonald-transit-inc-401k-retirement-plan/

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MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN

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MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN is $29,422.00

MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN is $1,934.00. 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.
123,818.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,934.00 in MCDONALD TRANSIT, INC. 401(K) RETIREMENT PLAN, 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.

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