SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK
Plan Contact
- Address: 257 MAIN STREET,SOUTHBRIDGE,MA
- Contact person: THOMAS FORESE, JR.
- Phone: (508) 885-5313
Plan General Information
SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK Total Number of Retirement Plan Participants
At the end of 2018, the total number of retirement plan participants in SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK is 101
SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK Estimated Average Employee Contribution Amount
In 2018, the estimated average employee contribution amount per participant for SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK is $6,047.00.
SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK Estimated Average Employer Match
In 2018, the estimated average employer match for an employee in SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK is approximately $4,201.00
Investing in this additonal $4,201.00 for 20 years would give you extra $268,913.00, assuming a 10% annual return.
Investing in this additonal $4,201.00 for 20 years would give you extra $268,913.00, assuming a 10% annual return.
SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK Total Employer Contribution and Match Rate
In 2018, SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK allocates $424,379.00 to match its employees' contributions, providing an employer match rate of 138.95% of their contributions
Enrollment Features
SBERA 401K PLAN AS ADOPTED BY SPENCER SAVINGS BANK 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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