SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN
Plan Contact
- Address: 314 4TH STREET,,LOGANSPORT,IN
- Contact person: THAD COWARD
- Phone: (574) 722-6261
Plan General Information
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN Total Retirement Plan Assets
At the end of 2022, the total retirement plan assets of SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN is $5,261,006.00.This plan was established in 2004.
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN Total Number of Retirement Plan Participants
At the end of 2022, the total number of retirement plan participants in SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN is 138
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN Average Participant Retirement Account Value
In 2022, the average participant retirement account value for SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN is $38,123.00
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN Estimated Average Employee Contribution Amount
In 2022, the estimated average employee contribution amount per participant for SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN is $4,890.00.
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN Estimated Average Employer Match
In 2022, the estimated average employer match for an employee in SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN is approximately $1,664.00
Investing in this additonal $1,664.00 for 20 years would give you extra $106,559.00, assuming a 10% annual return.
Investing in this additonal $1,664.00 for 20 years would give you extra $106,559.00, assuming a 10% annual return.
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN Total Employer Contribution and Match Rate
In 2022, SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN allocates $229,768.00 to match its employees' contributions, providing an employer match rate of 68.10% of their contributions
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN Total Retirement Plan Asset Growth Rate
In 2022, the total retirement plan asset growth rate of SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN is -14.69%.
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2022, the estimated aggregate retirement account investment gain/loss for SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN is -17.32%. This measures the effectiveness of the plan participants' investments in the year.
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN Expense Ratio
In 2022, the investment and administrative expense ratio of SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS PLAN is 0.61%.
Enrollment Features
SECURITY FEDERAL SAVINGS BANK EMPLOYEES' RETIREMENT READINESS 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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