BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT
Plan Contact
- Address: 11 HAMLIN WAY 5TH FLOOR,BANGOR,ME
- Contact person: YOLANDA MOFFATT
- Phone: (207) 942-5211
Plan General Information
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT is $151,212,123.00.This plan was established in 1989.
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT is 1491
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT Average Participant Retirement Account Value
In 2023, the average participant retirement account value for BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT is $101,416.00
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT is $5,020.00.
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT is approximately $3,524.00
Investing in this additonal $3,524.00 for 20 years would give you extra $225,562.00, assuming a 10% annual return.
Investing in this additonal $3,524.00 for 20 years would give you extra $225,562.00, assuming a 10% annual return.
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT Total Employer Contribution and Match Rate
In 2023, BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT allocates $5,254,897.00 to match its employees' contributions, providing an employer match rate of 73.58% of their contributions
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT is 20.16%.
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT is 18.34%. This measures the effectiveness of the plan participants' investments in the year.
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT Expense Ratio
In 2023, the investment and administrative expense ratio of BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT is 0.00%.
Enrollment Features
BANGOR SAVINGS BANK 401(K) PLAN & TRUST AGREEMENT has the following features:Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.
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