Understanding Your 401(k) Statement: July-September 2024 Insights
School
Macomb Community College**We aren't endorsed by this school
Course
BLAW 1080
Subject
Accounting
Date
Dec 11, 2024
Pages
4
Uploaded by MasterBaboonPerson1250
A statement of your account for the Your Retirement period July 1, 2024 to September 30, 2024 Ic(gllji?{?AN Fgfi%C&LMSgE}gA%SEE CHRISTIAN FINANCIAL CREDIT UNION 401(K) ’/_\ASCENSU& 35100 VAN DYKE AVENUE &PIS STERLING HEIGHTS MI 48312 Division: 014 0001 #itkey9999999999999999 BARBARA L LAFAVE PLAN ID: 007049 PRE-TAX DEFERRAL RATE: 5% 15192 OLIVEWOOD DRIVE PLAN STATUS: Active STERLING HEIGHTS MI 48313 DATE OF HIRE: 12/14/2023 Your Account in Review 7/1/24 Balance $730.26 Activity This Period Contributions By Source This Period Contributions/Other Credits $856.79 EMPLOYEE 401(K) $571.20 Investment Gains/(Losses) $73.72 EMPLOYER MATCH $285.59 Distributions/Other Debits $(0.37) Net Change $930.14 Total $856.79 9/30/24 Balance $1,660.40 Your Vesting in Review Source 9/30/24 Balance Vested Percent 9/30/24 Vested Balance EMPLOYEE 401(K) $1,106.95 100% $1,106.95 EMPLOYER MATCH $553.45 33% $182.64 Total $1,660.40 $1,289.59 Your Contribution Summary Contributions to Your Plan Current Period Year-to-Date Inception-to-Date EMPLOYEE 401(K) $571.20 $1,050.32 $1,050.32 EMPLOYER MATCH $285.59 $525.14 $525.14 Total $856.79 $1,575.46 $1,575.46 Contribution amounts displayed may vary from contributions actually made. Contributions may be pending or in process of being deposited. Contributions made to the plan prior to the current service provider may not be represented in the totals. Retirement Center May We Help You? To access plan information, process a transaction or check the progress of a request, please visit our website. This statement is believed to be reliable and accurate: however, it is imperative that you verify your investment selections and contributions within the next 30 days. Any correction or adjustments to your account will be rplink for interactive retirement made as of the current date and any changes will be reflected in planning tools. your subsequent statement. Visit us at https://my t com/
July 1, 2024 to September 30, 2024 BARBARA L LAFAVE Page 2 of 4 Your Asset Allocation Your Current Allocations: Your Future Allocations: [ Large Cap U.S. Stock 0% [ Large Cap U.S. Stock 0% B Mid Cap U.S. Stock 0% B Mid Cap U.S. Stock 0% [ Small Cap U.S. Stock 0% [ Small Cap U.S. Stock 0% B Balanced 0% B Balanced 0% [ Target Date 100% [ Target Date 100% Bl International Stock 0% Il International Stock 0% [ Diversified Bond 0% [ Diversified Bond 0% Bl Capital Preservation 0% Bl Capital Preservation 0% Your Current Allocation:* Your Current Allocation chart reflects how your account balance is invested in the asset categories available in your plan. *Holdings of less than 1% are not reflected in the chart. Your Future Allocation:* Your Future Allocation chart reflects how your future contributions will be allocated among the asset categories available in your plan. Your Investment Activity Asset Class / 7M1/24 Contributions/ Gains/ Distributions/ 9/30/24 Closing Unit/ Number of Fund Name (Future Allocation %) Balance Other Credits (Losses) Other Debits Balance Share Price Units/Shares Target Date American Funds Trgt Date Ret 2035 R4 (100) 730.26 856.79 73.72 (0.37) 1,660.40 19.95 83.2280 Total 730.26 856.79 73.72 (0.37) 1,660.40 Your Expense Information Description of Services Provided Amount Recordkeeping Services (0.37) Total (0.37) In addition to expenses reported on the statement, some of the plan's administrative expenses for the preceding quarter were paid from the annual operating expenses for one or more of the plan's designated investment options.
July 1, 2024 to September 30, 2024 BARBARA L LAFAVE Page 3 of 4 Your Investment Performance Summary Your Personal Rate of Return for the period 7/1/24 through 9/30/24 is 6.3%. Current Year to 1 3 5 10 Years Asset Class / Inception Quarter Date Year Years Years or Life of Fund Name Date % % % % % Fund Large Cap U.S. Stock American Funds Fundamental Inv R4 07/02 5.51 21.00 37.10 11.30 14.64 12.10 American Funds Growth Fund of Amer R4 05/02 5.23 22.89 40.44 7.53 16.37 13.44 American Funds American Mutual R4 06/02 9.35 17.63 28.55 10.75 11.17 10.16 American Funds Washington Mutual R4 05/02 6.89 18.92 32.32 12.57 13.67 11.67 Manning & Napier Disciplined Value S 09/84 747 13.50 21.95 7.32 8.88 9.19 T. Rowe Price U.S. Large-Cap Core Adv N/A 3.08 21.92 35.96 11.46 14.44 12.68 Mid Cap U.S. Stock Hartford Midcap R4 05/09 4.93 5.66 18.70 (1.35) 5.88 8.38 Small Cap U.S. Stock Delaware Small Cap Core A 12/98 8.74 9.39 24 .37 3.36 9.65 9.07 Balanced American Funds Inc Fund of Amer R4 06/02 8.40 13.07 22.89 6.76 8.13 7.08 American Funds American Balanced R4 06/02 5.36 14.53 25.82 6.88 9.26 8.39 Target Date American Funds Trgt Date Ret 2010 R4 02/07 6.16 9.92 18.19 3.79 5.81 5.24 American Funds Trgt Date Ret 2015 R4 02/07 6.15 10.17 18.93 3.84 6.17 5.57 American Funds Trgt Date Ret 2020 R4 02/07 6.29 10.80 20.15 4.05 6.60 6.01 American Funds Trgt Date Ret 2025 R4 02/07 6.11 11.07 20.85 4.02 7.42 6.69 American Funds Trgt Date Ret 2030 R4 02/07 6.04 12.29 23.11 4.66 8.50 7.63 v American Funds Trgt Date Ret 2035 R4 02/07 6.17 13.93 25.68 5.38 10.02 8.69 American Funds Trgt Date Ret 2040 R4 02/07 6.18 15.52 28.39 6.18 11.03 9.28 American Funds Trgt Date Ret 2045 R4 02/07 6.25 16.03 29.29 6.30 11.26 9.47 American Funds Trgt Date Ret 2050 R4 02/07 6.20 16.15 29.64 6.19 11.32 9.53 American Funds Trgt Date Ret 2055 R4 02/10 6.10 16.28 29.97 6.13 11.29 9.50 International Stock American Funds New Perspective R4 05/02 5.76 17.86 31.26 5.09 13.46 11.38 American Funds New World R4 10/02 6.85 14.11 2419 1.03 7.99 6.54 American Funds SMALLCAP World R4 07/02 6.46 6.93 21.04 (3.93) 8.45 8.50 American Funds EuroPacific Gr R4 06/02 5.31 12.69 24.27 (0.29) 7.15 5.89 Diversified Bond Lord Abbett Short Duration Income R4 N/A 2.81 4.81 7.71 1.53 1.93 219 American Funds Bond Fund of Amer R4 05/02 5.24 449 11.49 (1.42) 1.02 2.01 American Funds Capital World Bond R4 08/02 6.95 3.03 12.43 (3.73) (1.03) 0.41 Capital Preservation MetLife GAC-25053 Class 50 07/12 0.62 1.81 2.37 217 2.01 2.06 ~ = Funds in which you have a balance Disclaimer Your Personal Rate of Return is an approximate rate of return for your account for the investment period shown. It is influenced by the timing of your contributions, withdrawals, investment changes and fees throughout the calculation period and may differ from the fund’s overall Investment Performance provided on this statement, reflected on the participant website or heard on the IVR. Past performance is no guarantee of future results. Shares of Mutual Funds are not deposits or other obligations of, or endorsed or guaranteed by any Bank or any affiliates. Such shares are not federally insured by the FDIC, Federal Reserve Board, or any other government agency. Investments in the funds involve risks including possible loss of principal. Past performance does not insure future performance. All performance data are as of the prior calendar quarter end. The investment return and Net Asset Value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. An investment in the Money Market Fund is neither insured nor guaranteed by the U.S. Government. Yields will fluctuate, and there is no assurance that the fund will be able to maintain a stable NAV of $1.00 per share. International investment involves risk and volatility. Portions of the mutual fund information contained in this document were supplied by Morningstar, Inc., subject to the following: ©2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
July 1, 2024 to September 30, 2024 BARBARA L LAFAVE Page 4 of 4 Disclaimer (continued) Diversification To help achieve long-term retirement security, you should give careful consideration to the benefits of a well-balanced and diversified investment portfolio. Spreading your assets among different types of investments can help you achieve a favorable rate of return, while minimizing your overall risk of losing money. This is because market or other economic conditions that cause one category of assets, or one particular security, to perform very well often cause another asset category, or another particular security, to perform poorly. If you invest more than 20% of your retirement savings in any one company or industry, your savings may not be properly diversified. Although diversification is not a guarantee against loss, it is an effective strategy to help you manage investment risk. In deciding how to invest your retirement savings, you should take into account all of your assets, including any retirement savings outside of the Plan. No single approach is right for everyone because, among other factors, individuals have different financial goals, different time horizons for meeting their goals, and different tolerances for risk. It is also important to periodically review your investment portfolio, your investment objectives, and the investment options under the Plan to help ensure that your retirement savings will meet your retirement goals. The Department of Labor website contains more information regarding individual investing and diversification. This Internet website can be accessed at: http://www.dol.gov/ebsa/investing.html Restrictions on Investment Direction Generally, you may select from the various investment alternatives made available by your Employer as frequently as you would like, subject to market and trading restrictions. Your plan may also place some restrictions on the frequency and/or the ability to direct the investment of some or all of your plan assets. Please refer to your Summary Plan Description for more detailed information or other investment information previously provided to you.