THE RICHWOOD BANKING COMPANY 401(K) PLAN
Plan Contact
- Address: 28 N FRANKLIN STREET,RICHWOOD,OH
- Contact person: PLAN SPONSOR
- Phone: (740) 943-2317
Plan General Information
THE RICHWOOD BANKING COMPANY 401(K) PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of THE RICHWOOD BANKING COMPANY 401(K) PLAN is $7,080,833.00.This plan was established in 2011.
THE RICHWOOD BANKING COMPANY 401(K) PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in THE RICHWOOD BANKING COMPANY 401(K) PLAN is 200
THE RICHWOOD BANKING COMPANY 401(K) PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for THE RICHWOOD BANKING COMPANY 401(K) PLAN is $35,404.00
THE RICHWOOD BANKING COMPANY 401(K) PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for THE RICHWOOD BANKING COMPANY 401(K) PLAN is $4,279.00.
THE RICHWOOD BANKING COMPANY 401(K) PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in THE RICHWOOD BANKING COMPANY 401(K) PLAN is approximately $1,911.00
Investing in this additonal $1,911.00 for 20 years would give you extra $122,320.00, assuming a 10% annual return.
Investing in this additonal $1,911.00 for 20 years would give you extra $122,320.00, assuming a 10% annual return.
THE RICHWOOD BANKING COMPANY 401(K) PLAN Total Employer Contribution and Match Rate
In 2023, THE RICHWOOD BANKING COMPANY 401(K) PLAN allocates $382,253.00 to match its employees' contributions, providing an employer match rate of 49.35% of their contributions
THE RICHWOOD BANKING COMPANY 401(K) PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of THE RICHWOOD BANKING COMPANY 401(K) PLAN is 30.73%.
THE RICHWOOD BANKING COMPANY 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for THE RICHWOOD BANKING COMPANY 401(K) PLAN is 17.25%. This measures the effectiveness of the plan participants' investments in the year.
THE RICHWOOD BANKING COMPANY 401(K) PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of THE RICHWOOD BANKING COMPANY 401(K) PLAN is 0.44%.
Enrollment Features
THE RICHWOOD BANKING COMPANY 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.
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