What is PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567's employer match?

In 2023, PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 reported $2,400,666 in employer contributions. That is about 2,375.3% of reported employee contributions.

How many participants are in PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567?

At the end of 2023, PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 reported 678 plan participants.

What are PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567's total assets?

At the end of 2023, PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 reported total plan assets of $58,987,308.

What are the investment options in PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567?

MyPlanIQ tracks the investment lineup for PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 on its investment options page: https://www.myplaniq.com/invest/planinvestments/profit-sharing-401k-retirement-plan-local-567/

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Q: When was PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 established?

PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 was established in 1981.

PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567

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Contribution & Savings

PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 Average Participant Retirement Account Value

In 2023, the average participant retirement account value for PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 is $87,001.00

PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 is $146.00. 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.
9,394.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 146.00 in PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567, 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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