MB&T SALARY SAVING PLAN
Plan Contact
- Address: 1010 STATE STREET,SANTA BARBARA,CA
- Contact person: HEATHER AMES
- Phone: (805) 564-7353
Plan General Information
MB&T SALARY SAVING PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of MB&T SALARY SAVING PLAN is $38,704,968.00.This plan was established in 2018.
MB&T SALARY SAVING PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in MB&T SALARY SAVING PLAN is 335
MB&T SALARY SAVING PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for MB&T SALARY SAVING PLAN is $115,537.00
MB&T SALARY SAVING PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for MB&T SALARY SAVING PLAN is $8,170.00.
MB&T SALARY SAVING PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in MB&T SALARY SAVING PLAN is approximately $4,089.00
Investing in this additonal $4,089.00 for 20 years would give you extra $261,711.00, assuming a 10% annual return.
Investing in this additonal $4,089.00 for 20 years would give you extra $261,711.00, assuming a 10% annual return.
MB&T SALARY SAVING PLAN Total Employer Contribution and Match Rate
In 2023, MB&T SALARY SAVING PLAN allocates $1,369,898.00 to match its employees' contributions, providing an employer match rate of 52.81% of their contributions
MB&T SALARY SAVING PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of MB&T SALARY SAVING PLAN is 14.01%.
MB&T SALARY SAVING PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for MB&T SALARY SAVING PLAN is 15.70%. This measures the effectiveness of the plan participants' investments in the year.
MB&T SALARY SAVING PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of MB&T SALARY SAVING PLAN is 0.36%.
Enrollment Features
MB&T SALARY SAVING 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.
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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