LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN

At the end of 2022, the total retirement plan assets of LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN is $15,214,327.This plan was established in 1989.

At the end of 2022, the total number of retirement plan participants in LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN is 142

In 2022, the average participant retirement account value for LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN is $107,143

In 2022, the estimated average employee contribution amount per participant for LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN is $3,472

In 2022, the estimated average employer match for an employee in LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN is approximately $3,809

In 2022, LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN allocates $541,007 to match its employees’ contributions, providing an employer match rate of 108.58% of their contributions

In 2022, the total retirement plan asset growth rate of LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN is -27.05%

In 2022, the estimated aggregate retirement account investment gain/loss for LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN is -21.39%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN is 0.52%.

Enrollment Features

LAKE SHORE SAVINGS BANK 401(K) SAVINGS PLAN has the following features:
    Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.