THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY
Plan Contact
- Address: 116 EAST MAIN STREET,MOUNT OLIVE,NC
- Contact person: VALERIE ROBERSON
- Phone: (919) 658-7026
Plan General Information
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY is $36,481,976.00.This plan was established in 2012.
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY is 588
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY Average Participant Retirement Account Value
In 2023, the average participant retirement account value for THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY is $62,044.00
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY is $4,746.00.
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY is approximately $4,204.00
Investing in this additonal $4,204.00 for 20 years would give you extra $269,057.00, assuming a 10% annual return.
Investing in this additonal $4,204.00 for 20 years would give you extra $269,057.00, assuming a 10% annual return.
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY Total Employer Contribution and Match Rate
In 2023, THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY allocates $2,471,967.00 to match its employees' contributions, providing an employer match rate of 95.48% of their contributions
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY is 29.17%.
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY is 17.31%. This measures the effectiveness of the plan participants' investments in the year.
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY Expense Ratio
In 2023, the investment and administrative expense ratio of THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY is 0.10%.
Enrollment Features
THE ENHANCED CAPITAL ACCUMULATION PLAN FOR THE EMPLOYEES OF SOUTHERN BANK AND TRUST COMPANY 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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