COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN
Plan Contact
- Address: 445 PINE AVENUE,GOLETA,CA
- Contact person: JENNIFER OFNER
- Phone: (805) 692-4390
Plan General Information
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN is $14,720,993.00.This plan was established in 1995.
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN is 197
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN is $74,725.00
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN is $6,219.00.
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN is approximately $2,159.00
Investing in this additonal $2,159.00 for 20 years would give you extra $138,187.00, assuming a 10% annual return.
Investing in this additonal $2,159.00 for 20 years would give you extra $138,187.00, assuming a 10% annual return.
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN Total Employer Contribution and Match Rate
In 2023, COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN allocates $425,357.00 to match its employees' contributions, providing an employer match rate of 35.71% of their contributions
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN is 16.80%.
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN is 15.55%. This measures the effectiveness of the plan participants' investments in the year.
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING PLAN is 0.47%.
Enrollment Features
COMMUNITY WEST BANCSHARES & SUBSIDIARIES EMPLOYEES' 401(K) PROFIT SHARING 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.
Self-directed Brokerage: It allows participants or employees to allocate part or all of its account to a self directed brokereage account as an investment option.
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