INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN
Plan Contact
- Address: 1615 L STREET NW SUITE 900,WASHINGTON,DC
- Contact person: VALERIE UTSEY
- Phone: (202) 821-4314
Plan General Information
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN is $57,538,432.00.This plan was established in 1984.
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN is 334
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN is $172,270.00
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN is $8,634.00.
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN is approximately $5,277.00
Investing in this additonal $5,277.00 for 20 years would give you extra $337,774.00, assuming a 10% annual return.
Investing in this additonal $5,277.00 for 20 years would give you extra $337,774.00, assuming a 10% annual return.
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN Total Employer Contribution and Match Rate
In 2023, INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN allocates $1,762,759.00 to match its employees' contributions, providing an employer match rate of 65.75% of their contributions
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN is 18.92%.
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN is 19.70%. This measures the effectiveness of the plan participants' investments in the year.
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT PLAN is 0.11%.
Enrollment Features
INDEPENDENT COMMUNITY BANKERS OF AMERICA SAVINGS AND THRIFT 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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