What is ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN's employer match?

In 2022, ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN reported $142,323 in employer contributions. That is about 39.7% of reported employee contributions.

How many participants are in ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN?

At the end of 2022, ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN reported 308 plan participants.

What are ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN's total assets?

At the end of 2022, ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN reported total plan assets of $6,854,334.

When was ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN established?

ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN was established in 1988.

What are the investment options in ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN?

MyPlanIQ tracks the investment lineup for ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/able2-enhancing-potential-inc-401k-plan/

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ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN

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Contribution & Savings

ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2022, the average participant retirement account value for ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN is $22,254.00

ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for ABLE2 ENHANCING POTENTIAL, INC. 401(K) PLAN is $1,139.00. 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.
72,958.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 1,139.00 in ABLE2 ENHANCING POTENTIAL, INC. 401(K) 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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