How many participants are in SPINNAKER 401(K) PLAN?

At the end of 2022, SPINNAKER 401(K) PLAN reported 278 plan participants.

When was SPINNAKER 401(K) PLAN established?

SPINNAKER 401(K) PLAN was established in 1994.

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

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

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SPINNAKER 401(K) PLAN

Contribution & Savings

SPINNAKER 401(K) PLAN Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for SPINNAKER 401(K) PLAN is $386.00. 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.
24,767.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 386.00 in SPINNAKER 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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Money headlines from this plan

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Employee contributions per reported participant: $385
Based on the 2022 public filing. Individual contribution rates vary with pay, eligibility, and participation. Model a contribution increase.