ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN
Plan Contact
- Address: PO BOX 1300,,ANDOVER,OH
- Contact person: BRENDA SANFORD
- Phone: (440) 293-7605
Plan General Information
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN is $10,546,729.00.This plan was established in 1987.
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN is 133
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN is $79,298.00
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN is $2,495.00.
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN is approximately $2,912.00
Investing in this additonal $2,912.00 for 20 years would give you extra $186,402.00, assuming a 10% annual return.
Investing in this additonal $2,912.00 for 20 years would give you extra $186,402.00, assuming a 10% annual return.
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN Total Employer Contribution and Match Rate
In 2023, ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN allocates $387,368.00 to match its employees' contributions, providing an employer match rate of 122.21% of their contributions
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN is 2.70%.
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN is -1.26%. This measures the effectiveness of the plan participants' investments in the year.
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN is 0.02%.
Enrollment Features
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN has the following features:Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.
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