FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO
Plan Contact
- Address: 1130 MUNOZ RIVERA AVENUE,,SAN JUAN,PR
- Contact person: SARI T. BIAGGI
- Phone: (787) 729-8179
Plan General Information
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO is $142,903,396.00.This plan was established in 1965.
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO is 3506
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO Average Participant Retirement Account Value
In 2023, the average participant retirement account value for FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO is $40,759.00
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO is $4,255.00.
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO is approximately $811.00
Investing in this additonal $811.00 for 20 years would give you extra $51,918.00, assuming a 10% annual return.
Investing in this additonal $811.00 for 20 years would give you extra $51,918.00, assuming a 10% annual return.
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO Total Employer Contribution and Match Rate
In 2023, FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO allocates $2,844,137.00 to match its employees' contributions, providing an employer match rate of 38.13% of their contributions
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO is 21.06%.
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO is 17.76%. This measures the effectiveness of the plan participants' investments in the year.
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO Expense Ratio
In 2023, the investment and administrative expense ratio of FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO is 0.05%.
Enrollment Features
FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF PUERTO RICO 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.
Self-directed Brokerage: It allows participants or employees to allocate part or all of its account to a self directed brokereage account as an investment option.
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