How many participants are in RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST?

At the end of 2019, RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST reported 237 plan participants.

What are the investment options in RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST?

MyPlanIQ tracks the investment lineup for RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST on its investment options page: https://www.myplaniq.com/invest/planinvestments/ridgurak-bargaining-unit-401-k-profit-sharing-plan-and-trust/

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Q: What is RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST's employer match?

In 2019, RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST reported $138,206 in employer contributions. That is about 54.7% of reported employee contributions.

RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST

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Contribution & Savings

RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST Average Participant Retirement Account Value

In 2019, the average participant retirement account value for RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST is $26,416.00

RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST Estimated Average Employee Contribution Amount

In 2019, the estimated average employee contribution amount per participant for RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST is $2,132.00. 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.
136,448.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,132.00 in RIDG-U-RAK BARGAINING UNIT 401 (K) PROFIT SHARING PLAN AND TRUST, 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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