What is OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN's employer match?

In 2002, OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN reported $702,848 in employer contributions. That is about 51.4% of reported employee contributions.

How many participants are in OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN?

At the end of 2002, OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN reported 1,938 plan participants.

What are OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN's total assets?

At the end of 2002, OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN reported total plan assets of $19,220,971.

What are the investment options in OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN?

MyPlanIQ tracks the investment lineup for OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/ofs-fitel-llc-long-term-savings-and-security-plan/

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Q: When was OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN established?

OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN was established in 2001.

OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN

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Contribution & Savings

OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN Average Participant Retirement Account Value

In 2002, the average participant retirement account value for OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN is $9,917.00

OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN Estimated Average Employee Contribution Amount

In 2002, the estimated average employee contribution amount per participant for OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY PLAN is $1,410.00. 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.
90,270.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,410.00 in OFS FITEL, LLC LONG TERM SAVINGS AND SECURITY 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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