FIRST COUNTY BANK SAVINGS PLAN Contribution & Employer Match
How FIRST COUNTY BANK Supports Your Retirement Savings
FIRST COUNTY BANK provides retirement savings benefits through FIRST COUNTY BANK SAVINGS PLAN. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.
FIRST COUNTY BANK SAVINGS PLAN Average Participant Retirement Account Value
FIRST COUNTY BANK SAVINGS PLAN Estimated Average Employee Contribution Amount
369,530.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,773.00 in FIRST COUNTY BANK SAVINGS PLAN, assuming a 10%* annual return.
* Data are from public filings.
Employer Match in FIRST COUNTY BANK SAVINGS PLAN
An employer match is one of the most valuable benefits in any 401(k) plan — it is essentially free money added to your retirement savings. Your employer contributes additional funds based on a percentage of your own contributions. Missing out on the full match is one of the most common and costly retirement mistakes employees make.
FIRST COUNTY BANK SAVINGS PLAN Total Employer Contribution and Match Rate
FIRST COUNTY BANK SAVINGS PLAN Estimated Average Employer Match
Investing in this additonal $3,405.00 for 20 years would give you extra $217,964.00, assuming a 10% annual return.
* Data are from public filings.
Are You Leaving Dollars on the Table?
If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.
Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.
FIRST COUNTY BANK SAVINGS PLAN Contribution & Match Policy
FIRST COUNTY BANK SAVINGS PLAN Contribution, Match and Other Plan Policies
- Participants may defer their eligible compensation up to the annual Internal Revenue Code (the Code) limit.
- Participants can make pre-tax contributions or Roth elective 401(k) contributions.
- Participants of the Plan are permitted to defer eligible compensation by a specific percentage or dollar amount.
- Employees who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
- Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (Rollovers).
- The Sponsor automatically enrolls employees, who did not affirmatively elect otherwise, in the Plan.
- Employees who are automatically enrolled make a pre-tax deferral contribution in the amount of 6% for each payroll period, with automatic annual escalations of 1%, up to a maximum of 9%.
- The Company provides Qualified Automatic Contribution Arrangements (QACA) safe harbor matching contributions in an amount equal to 100% of participants’ elective deferrals up to the first 6% of eligible compensation.
- For the year ended December 31, 2024, employer safe harbor matching contributions amounted to $994,462.
- Vesting schedule for QACA contributions: Years of Service: 0-2 years – Percentage Vested: 0% Years of Service: 2+ years – Percentage Vested: 100%
- Less than 1 years: 0%
2025 IRS 401(k) Contribution Limits
The IRS sets annual limits on how much you and your employer can contribute to a 401(k) plan. Knowing these limits helps you maximize tax-advantaged savings. Here are the current limits:
| 2024 | 2025 | |
|---|---|---|
| Employee elective deferrals (pretax + Roth) | $23,000 | $23,500 |
| Employee + employer contributions combined | $69,000 | $70,000 |
| Catch-up contributions (age 50+) | $7,500 | $7,500 |
| Enhanced catch-up (ages 60–63, SECURE 2.0) | N/A | $11,250 |
The power of maxing out: If you contribute the full $23,500 annually for 20 years at a 10% average annual return, you would accumulate approximately $1,505,256. If you can maximize the combined employee+employer limit of $70,000 per year, that grows to roughly $4,480,385 over the same period — more than triple.
Use the 401(k) Savings Calculator to model your specific contribution scenario and see how your savings can grow over time.
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