What is SERVOTRONICS, INC. SAVINGS PLAN's employer match?

In 2018, SERVOTRONICS, INC. SAVINGS PLAN reported $89,633 in employer contributions. That is about 19.6% of reported employee contributions.

How many participants are in SERVOTRONICS, INC. SAVINGS PLAN?

At the end of 2018, SERVOTRONICS, INC. SAVINGS PLAN reported 392 plan participants.

What are SERVOTRONICS, INC. SAVINGS PLAN's total assets?

At the end of 2018, SERVOTRONICS, INC. SAVINGS PLAN reported total plan assets of $3,907,866.

When was SERVOTRONICS, INC. SAVINGS PLAN established?

SERVOTRONICS, INC. SAVINGS PLAN was established in 2000.

What are the investment options in SERVOTRONICS, INC. SAVINGS PLAN?

MyPlanIQ tracks the investment lineup for SERVOTRONICS, INC. SAVINGS PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/servotronics-inc-savings-plan/

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SERVOTRONICS, INC. SAVINGS PLAN

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Contribution & Savings

SERVOTRONICS, INC. SAVINGS PLAN Average Participant Retirement Account Value

In 2018, the average participant retirement account value for SERVOTRONICS, INC. SAVINGS PLAN is $9,969.00

SERVOTRONICS, INC. SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2018, the estimated average employee contribution amount per participant for SERVOTRONICS, INC. SAVINGS PLAN is $2,338.00. 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.
149,666.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 2,338.00 in SERVOTRONICS, INC. SAVINGS 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.

Keep researching SERVOTRONICS, INC. SAVINGS PLAN

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