AMERICAN BUSINESS BANK 401(K) PLAN

At the end of 2022, the total retirement plan assets of AMERICAN BUSINESS BANK 401(K) PLAN is $30,834,383.This plan was established in 1998.

At the end of 2022, the total number of retirement plan participants in AMERICAN BUSINESS BANK 401(K) PLAN is 243

In 2022, the average participant retirement account value for AMERICAN BUSINESS BANK 401(K) PLAN is $126,890

In 2022, the estimated average employee contribution amount per participant for AMERICAN BUSINESS BANK 401(K) PLAN is $9,218

In 2022, the estimated average employer match for an employee in AMERICAN BUSINESS BANK 401(K) PLAN is approximately $3,357

In 2022, AMERICAN BUSINESS BANK 401(K) PLAN allocates $815,983 to match its employees’ contributions, providing an employer match rate of 37.75% of their contributions

In 2022, the total retirement plan asset growth rate of AMERICAN BUSINESS BANK 401(K) PLAN is -14.47%

In 2022, the estimated aggregate retirement account investment gain/loss for AMERICAN BUSINESS BANK 401(K) PLAN is -17.43%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of AMERICAN BUSINESS BANK 401(K) PLAN is 0.21%.

Enrollment Features

AMERICAN BUSINESS BANK 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.