How many participants are in STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC.?

At the end of 2022, STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC. reported 173 plan participants.

What are the investment options in STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC.?

MyPlanIQ tracks the investment lineup for STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC. on its investment options page: https://www.myplaniq.com/invest/planinvestments/staffpro-multiple-employer-plan-penny-transportation-inc/

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Q: What is STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC.'s employer match?

In 2022, STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC. reported $28,860 in employer contributions. That is about 39.1% of reported employee contributions.

Q: When was STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC. established?

STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC. was established in 2020.

STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC.

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Contribution & Savings

STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC. Average Participant Retirement Account Value

In 2022, the average participant retirement account value for STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC. is $1,343.00

STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC. Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC. is $852.00. 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.
54,562.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 852.00 in STAFFPRO MULTIPLE EMPLOYER PLAN PENNY TRANSPORTATION, INC., 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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