What is SPECMO ENTERPRISES 401(K) PLAN's employer match?

In 2020, SPECMO ENTERPRISES 401(K) PLAN reported $44,888 in employer contributions. That is about 10.6% of reported employee contributions.

How many participants are in SPECMO ENTERPRISES 401(K) PLAN?

At the end of 2020, SPECMO ENTERPRISES 401(K) PLAN reported 128 plan participants.

What are SPECMO ENTERPRISES 401(K) PLAN's total assets?

At the end of 2020, SPECMO ENTERPRISES 401(K) PLAN reported total plan assets of $6,491,610.

When was SPECMO ENTERPRISES 401(K) PLAN established?

SPECMO ENTERPRISES 401(K) PLAN was established in 1996.

What are the investment options in SPECMO ENTERPRISES 401(K) PLAN?

MyPlanIQ tracks the investment lineup for SPECMO ENTERPRISES 401(K) PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/specmo-enterprises-401k-plan/

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SPECMO ENTERPRISES 401(K) PLAN

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Contribution & Savings

SPECMO ENTERPRISES 401(K) PLAN Average Participant Retirement Account Value

In 2020, the average participant retirement account value for SPECMO ENTERPRISES 401(K) PLAN is $50,715.00

SPECMO ENTERPRISES 401(K) PLAN Estimated Average Employee Contribution Amount

In 2020, the estimated average employee contribution amount per participant for SPECMO ENTERPRISES 401(K) PLAN is $6,602.00. 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.
422,572.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,602.00 in SPECMO ENTERPRISES 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.

Keep researching SPECMO ENTERPRISES 401(K) PLAN

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