What is LAKELAND AUTOMALL 401(K) RETIREMENT PLAN's employer match?

In 2024, LAKELAND AUTOMALL 401(K) RETIREMENT PLAN reported $333,329 in employer contributions. That is about 29.4% of reported employee contributions.

How many participants are in LAKELAND AUTOMALL 401(K) RETIREMENT PLAN?

At the end of 2024, LAKELAND AUTOMALL 401(K) RETIREMENT PLAN reported 336 plan participants.

What are LAKELAND AUTOMALL 401(K) RETIREMENT PLAN's total assets?

At the end of 2024, LAKELAND AUTOMALL 401(K) RETIREMENT PLAN reported total plan assets of $9,813,500.

When was LAKELAND AUTOMALL 401(K) RETIREMENT PLAN established?

LAKELAND AUTOMALL 401(K) RETIREMENT PLAN was established in 1988.

What are the investment options in LAKELAND AUTOMALL 401(K) RETIREMENT PLAN?

MyPlanIQ tracks the investment lineup for LAKELAND AUTOMALL 401(K) RETIREMENT PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/lakeland-automall-401k-retirement-plan/

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LAKELAND AUTOMALL 401(K) RETIREMENT PLAN

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Contribution & Savings

LAKELAND AUTOMALL 401(K) RETIREMENT PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for LAKELAND AUTOMALL 401(K) RETIREMENT PLAN is $29,206.00

LAKELAND AUTOMALL 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for LAKELAND AUTOMALL 401(K) RETIREMENT PLAN is $3,936.00. 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.
251,964.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,936.00 in LAKELAND AUTOMALL 401(K) RETIREMENT 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.

Keep researching LAKELAND AUTOMALL 401(K) RETIREMENT PLAN

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