What is SIMCOM INC. 401(K) RETIREMENT PLAN's employer match?

In 2024, SIMCOM INC. 401(K) RETIREMENT PLAN reported $593,003 in employer contributions. That is about 41.4% of reported employee contributions.

How many participants are in SIMCOM INC. 401(K) RETIREMENT PLAN?

At the end of 2024, SIMCOM INC. 401(K) RETIREMENT PLAN reported 258 plan participants.

What are SIMCOM INC. 401(K) RETIREMENT PLAN's total assets?

At the end of 2024, SIMCOM INC. 401(K) RETIREMENT PLAN reported total plan assets of $15,810,113.

When was SIMCOM INC. 401(K) RETIREMENT PLAN established?

SIMCOM INC. 401(K) RETIREMENT PLAN was established in 1994.

What are the investment options in SIMCOM INC. 401(K) RETIREMENT PLAN?

MyPlanIQ tracks the investment lineup for SIMCOM INC. 401(K) RETIREMENT PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/simcom-inc-401k-retirement-plan/

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SIMCOM INC. 401(K) RETIREMENT PLAN

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Contribution & Savings

SIMCOM INC. 401(K) RETIREMENT PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for SIMCOM INC. 401(K) RETIREMENT PLAN is $61,279.00

SIMCOM INC. 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for SIMCOM INC. 401(K) RETIREMENT PLAN is $6,177.00. 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.
395,332.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,177.00 in SIMCOM INC. 401(K) RETIREMENT 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 SIMCOM INC. 401(K) RETIREMENT PLAN

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