BAC COMMUNITY BANK 401(K) PLAN

At the end of 2022, the total retirement plan assets of BAC COMMUNITY BANK 401(K) PLAN is $14,764,826.This plan was established in 1988.

At the end of 2022, the total number of retirement plan participants in BAC COMMUNITY BANK 401(K) PLAN is 128

In 2022, the average participant retirement account value for BAC COMMUNITY BANK 401(K) PLAN is $115,350

In 2022, the estimated average employee contribution amount per participant for BAC COMMUNITY BANK 401(K) PLAN is $4,734

In 2022, the estimated average employer match for an employee in BAC COMMUNITY BANK 401(K) PLAN is approximately $1,608

In 2022, BAC COMMUNITY BANK 401(K) PLAN allocates $205,840 to match its employees’ contributions, providing an employer match rate of 31.85% of their contributions

In 2022, the total retirement plan asset growth rate of BAC COMMUNITY BANK 401(K) PLAN is -19.40%

In 2022, the estimated aggregate retirement account investment gain/loss for BAC COMMUNITY BANK 401(K) PLAN is -20.65%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of BAC COMMUNITY BANK 401(K) PLAN is 0.01%.

Enrollment Features

BAC COMMUNITY 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.