What is MINNCO CREDIT UNION 401(K) PLAN's employer match?

In 2024, MINNCO CREDIT UNION 401(K) PLAN reported $723,114 in employer contributions. That is about 156.4% of reported employee contributions.

How many participants are in MINNCO CREDIT UNION 401(K) PLAN?

At the end of 2024, MINNCO CREDIT UNION 401(K) PLAN reported 150 plan participants.

What are MINNCO CREDIT UNION 401(K) PLAN's total assets?

At the end of 2024, MINNCO CREDIT UNION 401(K) PLAN reported total plan assets of $13,790,152.

When was MINNCO CREDIT UNION 401(K) PLAN established?

MINNCO CREDIT UNION 401(K) PLAN was established in 1997.

What are the investment options in MINNCO CREDIT UNION 401(K) PLAN?

MyPlanIQ tracks the investment lineup for MINNCO CREDIT UNION 401(K) PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/minnco-credit-union-401k-plan/

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MINNCO CREDIT UNION 401(K) PLAN

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Contribution & Savings

MINNCO CREDIT UNION 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for MINNCO CREDIT UNION 401(K) PLAN is $91,934.00

MINNCO CREDIT UNION 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for MINNCO CREDIT UNION 401(K) PLAN is $3,256.00. 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.
208,441.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 3,256.00 in MINNCO CREDIT UNION 401(K) 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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