How many participants are in MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN?

At the end of 2023, MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN reported 295 plan participants.

What are the investment options in MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN?

MyPlanIQ tracks the investment lineup for MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/materials-processing-inc-employee-stock-ownership-plan/

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Q: What is MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN's employer match?

In 2023, MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN reported $1,248,774 in employer contributions.

Q: When was MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN established?

MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN was established in 2021.

MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN

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Contribution & Savings

MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for MATERIALS PROCESSING, INC. EMPLOYEE STOCK OWNERSHIP PLAN is $14,983.00

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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