LAKE AREA BANK PROFIT SHARING & 401(K) PLAN
Plan Contact
- Address: 12790 FIRST AVENUE N,,LINDSTROM,MN
- Contact person: AMY MILLER
- Phone: (507) 837-4839
Plan General Information
LAKE AREA BANK PROFIT SHARING & 401(K) PLAN Total Number of Retirement Plan Participants
At the end of 2018, the total number of retirement plan participants in LAKE AREA BANK PROFIT SHARING & 401(K) PLAN is 127
LAKE AREA BANK PROFIT SHARING & 401(K) PLAN Estimated Average Employee Contribution Amount
In 2018, the estimated average employee contribution amount per participant for LAKE AREA BANK PROFIT SHARING & 401(K) PLAN is $8,879.00.
LAKE AREA BANK PROFIT SHARING & 401(K) PLAN Estimated Average Employer Match
In 2018, the estimated average employer match for an employee in LAKE AREA BANK PROFIT SHARING & 401(K) PLAN is approximately $3,013.00
Investing in this additonal $3,013.00 for 20 years would give you extra $192,875.00, assuming a 10% annual return.
Investing in this additonal $3,013.00 for 20 years would give you extra $192,875.00, assuming a 10% annual return.
LAKE AREA BANK PROFIT SHARING & 401(K) PLAN Total Employer Contribution and Match Rate
In 2018, LAKE AREA BANK PROFIT SHARING & 401(K) PLAN allocates $382,738.00 to match its employees' contributions, providing an employer match rate of 67.88% of their contributions
Enrollment Features
LAKE AREA BANK PROFIT SHARING & 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.
Recent Articles
- Outsaving Regular Workers: How Gig Workers & Entrepreneurs Can Save 3x More for Retirement—Up to $70K Tax-Deferred!
- The Hidden Benefit of Emergency Savings Accounts: It’s a ‘Regular’ Savings Account with Free Employer Match
- February 2025 MyPlanIQ Portfolio Update
- Maximizing Your Savings & Investments: The Power of 1% Over Time
- Key Retirement Ages: Essential Milestones for 401(k), IRA, Solo 401(k), SEP IRA, Social Security & Medicare
- Dividend Income Investments: Benefits and Pitfalls
- Rule of Thumb: The 50/30/20 Budget Rule
- Option-Based Income Funds: Pros and Cons
- 9 Lessons From Retirees’ Biggest Retirement Regrets
Free newsletters
High quality resources for 401k, 403b, 529 retirement plans on investment, contribution, fees, retirement planning and much more …
Puzzled on what to invest?
- We ask a few questions to decide your personal return and risk expectations
- We build a custom portfolio for your plan (401(k), 403(b), 529 …) or for a brokerage account
- We monitor and send timely rebalance emails on what investment funds to buy and sell
Looking for ideas to generate income?
- ETF or mutual fund income portfolios for 4-7% annual income
- Dividend stock funds
- Passive real estate investments
- more …
Portfolio Calculator (Simulator)
Quickly enter fund allocation and get a back test result on the performance of this ‘lazy’ portfolio.
Customize Asset Allocation Portfolios
Build a custom model portfolio using our asset strategic or tactical strategies, tailored to a 401(k) plan or for a brokerage account.
Retirement Calculator
See how much you can save for retirement.
Investment Calculator
Grow your wealth and see the power of compounding.
Looking for a (forgotten) 401(k)?
Find plan contact info, plan expenses, investment options, rollover your old plan, or learn how to select investments on your 401k plan …