What are the investment options in THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN?

MyPlanIQ tracks the investment lineup for THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/the-bank-of-clarke-county-employee-401k-savings-and-stock-ownership-plan-1/

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Q: What is THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN's employer match?

In 2008, THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN reported $643,391 in employer contributions. That is about 152.7% of reported employee contributions.

Q: How many participants are in THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN?

At the end of 2008, THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN reported 198 plan participants.

Q: What are THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN's total assets?

At the end of 2008, THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN reported total plan assets of $5,121,071.

THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN

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THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN Average Participant Retirement Account Value

In 2008, the average participant retirement account value for THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN is $25,863.00

THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN Estimated Average Employee Contribution Amount

In 2008, the estimated average employee contribution amount per participant for THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP PLAN is $4,255.00. 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.
272,320.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,255.00 in THE BANK OF CLARKE COUNTY EMPLOYEE 401K SAVINGS AND STOCK OWNERSHIP 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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