CLEAR MOUNTAIN BANK, INC. 401(K) PLAN

Plan Contact

  • Address: 160 MORGANTOWN ST,BRUCETON MILLS,WV
  • Contact person: NANCY SPIKER
  • Phone: (304) 379-2265

Plan General Information

CLEAR MOUNTAIN BANK, INC. 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of CLEAR MOUNTAIN BANK, INC. 401(K) PLAN is $14,781,033.00.This plan was established in 1988.

CLEAR MOUNTAIN BANK, INC. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in CLEAR MOUNTAIN BANK, INC. 401(K) PLAN is 202

CLEAR MOUNTAIN BANK, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for CLEAR MOUNTAIN BANK, INC. 401(K) PLAN is $73,173.00

CLEAR MOUNTAIN BANK, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for CLEAR MOUNTAIN BANK, INC. 401(K) PLAN is $3,962.00.

CLEAR MOUNTAIN BANK, INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in CLEAR MOUNTAIN BANK, INC. 401(K) PLAN is approximately $1,552.00
Investing in this additonal $1,552.00 for 20 years would give you extra $99,344.00, assuming a 10% annual return.

CLEAR MOUNTAIN BANK, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, CLEAR MOUNTAIN BANK, INC. 401(K) PLAN allocates $313,555.00 to match its employees' contributions, providing an employer match rate of 39.18% of their contributions

CLEAR MOUNTAIN BANK, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of CLEAR MOUNTAIN BANK, INC. 401(K) PLAN is 17.20%.

CLEAR MOUNTAIN BANK, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for CLEAR MOUNTAIN BANK, INC. 401(K) PLAN is 14.72%. This measures the effectiveness of the plan participants' investments in the year.

CLEAR MOUNTAIN BANK, INC. 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of CLEAR MOUNTAIN BANK, INC. 401(K) PLAN is 0.26%.

Enrollment Features

CLEAR MOUNTAIN BANK, INC. 401(K) 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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