How many participants are in FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE?

At the end of 2003, FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE reported 108 plan participants.

What are FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE's total assets?

At the end of 2003, FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE reported total plan assets of $1,110,417.

What are the investment options in FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE?

MyPlanIQ tracks the investment lineup for FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE on its investment options page: https://www.myplaniq.com/invest/planinvestments/frank-chervan-inc-bargaining-unit-money-purchase/

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Q: When was FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE established?

FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE was established in 1985.

FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE

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Contribution & Savings

FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE Average Participant Retirement Account Value

In 2003, the average participant retirement account value for FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE is $10,281.00

FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE Estimated Average Employee Contribution Amount

In 2003, the estimated average employee contribution amount per participant for FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE is $334.00. 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.
21,376.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 334.00 in FRANK CHERVAN, INC BARGAINING UNIT MONEY PURCHASE, 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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