How many participants are in THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC?

At the end of 2019, THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC reported 936 plan participants.

What are the investment options in THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC?

MyPlanIQ tracks the investment lineup for THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC on its investment options page: https://www.myplaniq.com/invest/planinvestments/the-401k-plan-sponsored-by-freedom-network-benefits-llc/

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Q: What is THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC's employer match?

In 2019, THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC reported $2,693,180 in employer contributions. That is about 72.7% of reported employee contributions.

Q: When was THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC established?

THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC was established in 2018.

THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC

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Contribution & Savings

THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC Average Participant Retirement Account Value

In 2019, the average participant retirement account value for THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC is $33,187.00

THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC Estimated Average Employee Contribution Amount

In 2019, the estimated average employee contribution amount per participant for THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC is $7,919.00. 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.
506,873.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,919.00 in THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC, 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 THE 401(K) PLAN SPONSORED BY FREEDOM NETWORK BENEFITS, LLC

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