STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST
Plan Contact
- Address: PO BOX 600,STURGIS,MI
- Phone: (269) 651-9345
Plan General Information
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST is $12,488,192.00.This plan was established in 1998.
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST is 231
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST Average Participant Retirement Account Value
In 2023, the average participant retirement account value for STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST is $54,061.00
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST is $5,185.00.
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST is approximately $1,862.00
Investing in this additonal $1,862.00 for 20 years would give you extra $119,231.00, assuming a 10% annual return.
Investing in this additonal $1,862.00 for 20 years would give you extra $119,231.00, assuming a 10% annual return.
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST Total Employer Contribution and Match Rate
In 2023, STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST allocates $430,350.00 to match its employees' contributions, providing an employer match rate of 42.02% of their contributions
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST is 11.27%.
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST is 9.37%. This measures the effectiveness of the plan participants' investments in the year.
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST Expense Ratio
In 2023, the investment and administrative expense ratio of STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST is 0.19%.
Enrollment Features
STURGIS BANK & TRUST COMPANY 401(K) PROFIT SHARING PLAN & TRUST 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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