How many participants are in SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN?

At the end of 2020, SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN reported 116 plan participants.

What are SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN's total assets?

At the end of 2020, SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN reported total plan assets of $957,444.

When was SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN established?

SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN was established in 2013.

What are the investment options in SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN?

MyPlanIQ tracks the investment lineup for SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/summit-emergency-physiciansinc-401k-plan/

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SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN

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Contribution & Savings

SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN Average Participant Retirement Account Value

In 2020, the average participant retirement account value for SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN is $8,253.00

SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2020, the estimated average employee contribution amount per participant for SUMMIT EMERGENCY PHYSICIANS,INC. 401(K) PLAN is $4,005.00. 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.
256,333.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,005.00 in SUMMIT EMERGENCY PHYSICIANS,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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