How many participants are in TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN?

At the end of 2017, TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN reported 371 plan participants.

What are TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN's total assets?

At the end of 2017, TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN reported total plan assets of $312,525.

When was TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN established?

TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN was established in 2011.

What are the investment options in TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN?

MyPlanIQ tracks the investment lineup for TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/timberworks-construction-inc-401k-plan/

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TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN

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Contribution & Savings

TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2017, the average participant retirement account value for TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN is $842.00

TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2017, the estimated average employee contribution amount per participant for TIMBERWORKS CONSTRUCTION, INC. 401(K) PLAN is $450.00. 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.
28,812.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 450.00 in TIMBERWORKS CONSTRUCTION, 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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