CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN
Plan Contact
- Address: P.O. BOX 1522,ELMIRA,NY
- Phone: (607) 737-3711
Plan General Information
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN is $58,364,853.00.This plan was established in 1965.
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN is 502
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN is $116,264.00
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN is $4,511.00.
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN is approximately $2,850.00
Investing in this additonal $2,850.00 for 20 years would give you extra $182,430.00, assuming a 10% annual return.
Investing in this additonal $2,850.00 for 20 years would give you extra $182,430.00, assuming a 10% annual return.
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN Total Employer Contribution and Match Rate
In 2023, CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN allocates $1,430,940.00 to match its employees' contributions, providing an employer match rate of 65.19% of their contributions
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN is 19.32%.
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN is 16.87%. This measures the effectiveness of the plan participants' investments in the year.
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN is 0.00%.
Enrollment Features
CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN 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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