What is LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN's employer match?

In 2023, LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN reported $9,236,063 in employer contributions.

How many participants are in LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN?

At the end of 2023, LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN reported 4,067 plan participants.

What are LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN's total assets?

At the end of 2023, LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN reported total plan assets of $194,283,292.

When was LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN established?

LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN was established in 1980.

What are the investment options in LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN?

MyPlanIQ tracks the investment lineup for LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/local-191-ibew-money-purchase-plan/

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LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN

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Contribution & Savings

LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for LOCAL 191 I.B.E.W. MONEY PURCHASE PLAN is $47,770.00

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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