What are the investment options in MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES?

MyPlanIQ tracks the investment lineup for MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES on its investment options page: https://www.myplaniq.com/invest/planinvestments/mitel-networks-solutions-inc-401-k-plan-for-represented-employees/

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Q: What is MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES's employer match?

In 2004, MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES reported $211,245 in employer contributions. That is about 44.5% of reported employee contributions.

Q: How many participants are in MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES?

At the end of 2004, MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES reported 189 plan participants.

Q: What are MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES's total assets?

At the end of 2004, MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES reported total plan assets of $11,475,147.

MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES

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Contribution & Savings

MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES Average Participant Retirement Account Value

In 2004, the average participant retirement account value for MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES is $60,715.00

MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES Estimated Average Employee Contribution Amount

In 2004, the estimated average employee contribution amount per participant for MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES is $5,020.00. 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.
321,338.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,020.00 in MITEL NETWORKS SOLUTIONS, INC. 401 K PLAN FOR REPRESENTED EMPLOYEES, 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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