How many participants are in SODERBERG MASONRY, INC., 401(K) PLAN?

At the end of 2023, SODERBERG MASONRY, INC., 401(K) PLAN reported 136 plan participants.

What are SODERBERG MASONRY, INC., 401(K) PLAN's total assets?

At the end of 2023, SODERBERG MASONRY, INC., 401(K) PLAN reported total plan assets of $2,786,466.

When was SODERBERG MASONRY, INC., 401(K) PLAN established?

SODERBERG MASONRY, INC., 401(K) PLAN was established in 1995.

What are the investment options in SODERBERG MASONRY, INC., 401(K) PLAN?

MyPlanIQ tracks the investment lineup for SODERBERG MASONRY, INC., 401(K) PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/soderberg-masonry-inc-401k-plan/

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SODERBERG MASONRY, INC., 401(K) PLAN

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Contribution & Savings

SODERBERG MASONRY, INC., 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for SODERBERG MASONRY, INC., 401(K) PLAN is $20,488.00

SODERBERG MASONRY, INC., 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for SODERBERG MASONRY, INC., 401(K) PLAN is $979.00. 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.
62,709.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 979.00 in SODERBERG MASONRY, INC., 401(K) 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.

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