VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK
Plan Contact
- Address: 1101 EXECUTIVE BLVD.,CHESAPEAKE,VA
- Contact person: SHELLEY PETERSON
- Phone: (757) 222-2100
Plan General Information
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK Total Retirement Plan Assets
At the end of 2009, the total retirement plan assets of VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK is $5,236,184.00.This plan was established in 1998.
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK Total Number of Retirement Plan Participants
At the end of 2009, the total number of retirement plan participants in VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK is 342
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK Average Participant Retirement Account Value
In 2009, the average participant retirement account value for VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK is $15,310.00
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK Estimated Average Employee Contribution Amount
In 2009, the estimated average employee contribution amount per participant for VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK is $2,544.00.
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK Estimated Average Employer Match
In 2009, the estimated average employer match for an employee in VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK is approximately $3,339.00
Investing in this additonal $3,339.00 for 20 years would give you extra $213,747.00, assuming a 10% annual return.
Investing in this additonal $3,339.00 for 20 years would give you extra $213,747.00, assuming a 10% annual return.
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK Total Employer Contribution and Match Rate
In 2009, VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK allocates $1,142,213.00 to match its employees' contributions, providing an employer match rate of 262.56% of their contributions
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK Total Retirement Plan Asset Growth Rate
In 2009, the total retirement plan asset growth rate of VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK is 57.19%.
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK Estimated Aggregate Retirement Account Investment Gain/Loss
In 2009, the estimated aggregate retirement account investment gain/loss for VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK is 14.52%. This measures the effectiveness of the plan participants' investments in the year.
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK Expense Ratio
In 2009, the investment and administrative expense ratio of VBA DEFINED CONTRIBUTION PLAN FOR MONARCH BANK is 0.08%.
Enrollment Features
VBA DEFINED CONTRIBUTION PLAN FOR MONARCH 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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