What is I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN's employer match?

In 2024, I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN reported $13,899,866 in employer contributions. That is about 144,579.4% of reported employee contributions.

How many participants are in I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN?

At the end of 2024, I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN reported 1,085 plan participants.

What are I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN's total assets?

At the end of 2024, I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN reported total plan assets of $432,726,108.

When was I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN established?

I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN was established in 1984.

What are the investment options in I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN?

MyPlanIQ tracks the investment lineup for I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/ibew-local-697-defined-contribution-plan/

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I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN

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Contribution & Savings

I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN is $398,825.00

I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for I.B.E.W LOCAL 697 DEFINED CONTRIBUTION PLAN is $17.00. 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.
1,134.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 17.00 in I.B.E.W LOCAL 697 DEFINED CONTRIBUTION 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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