What is BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN's employer match?

In 2024, BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN reported $336,617 in employer contributions. That is about 33.3% of reported employee contributions.

How many participants are in BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN?

At the end of 2024, BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN reported 406 plan participants.

What are BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN's total assets?

At the end of 2024, BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN reported total plan assets of $16,650,860.

When was BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN established?

BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN was established in 1991.

What are the investment options in BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN?

MyPlanIQ tracks the investment lineup for BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/bag-makers-inc-401kprofit-sharing-plan/

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BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN

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Contribution & Savings

BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN is $41,011.00

BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for BAG MAKERS, INC. 401(K)/PROFIT SHARING PLAN is $2,519.00. 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.
161,279.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,519.00 in BAG MAKERS, INC. 401(K)/PROFIT SHARING 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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