NEW PEOPLES BANK, INC. 401(K) PLAN
Plan Contact
- Address: P. O. BOX 1810,HONAKER,VA
- Contact person: LORI COUNTS
- Phone: (276) 873-7036
Plan General Information
NEW PEOPLES BANK, INC. 401(K) PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of NEW PEOPLES BANK, INC. 401(K) PLAN is $14,642,849.00.This plan was established in 1998.
NEW PEOPLES BANK, INC. 401(K) PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in NEW PEOPLES BANK, INC. 401(K) PLAN is 257
NEW PEOPLES BANK, INC. 401(K) PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for NEW PEOPLES BANK, INC. 401(K) PLAN is $56,976.00
NEW PEOPLES BANK, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for NEW PEOPLES BANK, INC. 401(K) PLAN is $2,730.00.
NEW PEOPLES BANK, INC. 401(K) PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in NEW PEOPLES BANK, INC. 401(K) PLAN is approximately $1,993.00
Investing in this additonal $1,993.00 for 20 years would give you extra $127,573.00, assuming a 10% annual return.
Investing in this additonal $1,993.00 for 20 years would give you extra $127,573.00, assuming a 10% annual return.
NEW PEOPLES BANK, INC. 401(K) PLAN Total Employer Contribution and Match Rate
In 2023, NEW PEOPLES BANK, INC. 401(K) PLAN allocates $512,286.00 to match its employees' contributions, providing an employer match rate of 71.61% of their contributions
NEW PEOPLES BANK, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of NEW PEOPLES BANK, INC. 401(K) PLAN is 17.73%.
NEW PEOPLES BANK, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for NEW PEOPLES BANK, INC. 401(K) PLAN is 17.08%. This measures the effectiveness of the plan participants' investments in the year.
NEW PEOPLES BANK, INC. 401(K) PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of NEW PEOPLES BANK, INC. 401(K) PLAN is 0.48%.
Enrollment Features
NEW PEOPLES BANK, INC. 401(K) 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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