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Q: What is PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES's employer match?

In 2022, PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES reported $214,640 in employer contributions. That is about 39.5% of reported employee contributions.

Q: How many participants are in PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES?

At the end of 2022, PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES reported 107 plan participants.

Q: What are PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES's total assets?

At the end of 2022, PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES reported total plan assets of $19,623,758.

Q: What are the investment options in PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES?

MyPlanIQ tracks the investment lineup for PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES on its investment options page: https://www.myplaniq.com/invest/planinvestments/profit-sharing401k-plan-of-banfi-products-corporation-and-affiliated-companies/

PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES

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Contribution & Savings

PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES Average Participant Retirement Account Value

In 2022, the average participant retirement account value for PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES is $183,399.00

PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES is $4,848.00. 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.
310,321.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,848.00 in PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES, 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 PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES

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