SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN

At the end of 2022, the total retirement plan assets of SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN is $25,159,425.This plan was established in 2022.

At the end of 2022, the total number of retirement plan participants in SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN is 1259

In 2022, the average participant retirement account value for SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN is $19,983

In 2022, the estimated average employee contribution amount per participant for SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN is $1,932

In 2022, the estimated average employer match for an employee in SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN is approximately $400

In 2022, SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN allocates $504,476 to match its employees’ contributions, providing an employer match rate of 20.73% of their contributions

In 2022, the total retirement plan asset growth rate of SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN is -13.60%

In 2022, the estimated aggregate retirement account investment gain/loss for SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN is -12.03%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of SALEM HOLDING COMPANY 401(K) PROFIT SHARING PLAN is 0.36%.

Enrollment Features

SALEM HOLDING COMPANY 401(K) PROFIT SHARING 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.