What is B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN's employer match?

In 2023, B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN reported $2,903,869 in employer contributions.

How many participants are in B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN?

At the end of 2023, B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN reported 3,900 plan participants.

What are B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN's total assets?

At the end of 2023, B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN reported total plan assets of $111,860,344.

When was B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN established?

B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN was established in 1982.

What are the investment options in B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN?

MyPlanIQ tracks the investment lineup for B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/bac-local-no-3-defined-contribution-pension-plan/

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B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN

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Contribution & Savings

B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for B.A.C. LOCAL NO. 3 DEFINED CONTRIBUTION PENSION PLAN is $28,682.00

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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