What is COVORO MINING SOLUTIONS 401(K) PLAN's employer match?

In 2024, COVORO MINING SOLUTIONS 401(K) PLAN reported $1,292,313 in employer contributions. That is about 59.9% of reported employee contributions.

How many participants are in COVORO MINING SOLUTIONS 401(K) PLAN?

At the end of 2024, COVORO MINING SOLUTIONS 401(K) PLAN reported 222 plan participants.

What are COVORO MINING SOLUTIONS 401(K) PLAN's total assets?

At the end of 2024, COVORO MINING SOLUTIONS 401(K) PLAN reported total plan assets of $27,657,236.

When was COVORO MINING SOLUTIONS 401(K) PLAN established?

COVORO MINING SOLUTIONS 401(K) PLAN was established in 2015.

What are the investment options in COVORO MINING SOLUTIONS 401(K) PLAN?

MyPlanIQ tracks the investment lineup for COVORO MINING SOLUTIONS 401(K) PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/covoro-mining-solutions-401k-plan/

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COVORO MINING SOLUTIONS 401(K) PLAN

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Contribution & Savings

COVORO MINING SOLUTIONS 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for COVORO MINING SOLUTIONS 401(K) PLAN is $124,582.00

COVORO MINING SOLUTIONS 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for COVORO MINING SOLUTIONS 401(K) PLAN is $19,425.00. 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.
1,243,253.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 19,425.00 in COVORO MINING SOLUTIONS 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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