Have you checked your Connor Group 401(k) lately?
If you haven’t, you are in for a pleasant surprise. Over the last three years, our hand-selected funds have delivered phenomenal results. And it all starts with the right people and using our resources.
CFO Bob Holzapfel and Shane Connor worked together in 2019 and took a hard look at the funds we offered in our Connor Group 401(k) plan. For those of you who don’t know, Shane is a professional investor with incredible experience vetting fund managers.
“Shane has been instrumental in reviewing our 401(k) options and finding the best opportunity for our associates,” Bob H. said. “We review our funds twice a year to make sure we are providing our associates the best investment opportunities and hold our fund managers accountable.”
Associates can select to invest money they put into their 401(k) plans into six different funds. Our highest performing fund had over a 55 percent return on investment last year.
“Our Morgan Stanley International fund is one where we personally met face-to-face with the fund manager in New York,” Bob H. said. “We both agreed this fund met our high standards, and it was added to our portfolio in 2019.”
“I believe every person should have a choice when it comes to investing,” Shane said. “We’ve thoughtfully selected funds that we feel have the correct structure and strategic plans to perform, making every fund in The Connor Group 401(k) excellent options for retirement savings.”
For our associates, these funds mean incredible long-term growth opportunities. Those opportunities can set you up for a successful retirement by investing just a small percentage of your salary.
What does this mean for our associates?
If you’re a turn tech earning $50,000 per year, contributing just four to five percent of your salary to our 401(k) plan, you can turn $6,712 into $14,800 in just three years! If you continue contributing the maximum amounts to your 401(k) Over 20 years, this turn tech could easily save $725,000 for retirement.
Our company match plays a big part in driving incredible growth. If you invested in an average 401(k) plan and made $50,000 per year, your 401(k) balance would look much smaller. An average 401(k) return would only produce $365,000 over 20 years, or about half of what you’ll earn by participating in The Connor Group’s 401(k).
Over the last three years, The Connor Group’s 401(k) returns an average of 13 percent to our associates vs. an average 401(k) that returns just 8 percent.
Last year’s returns were significantly higher than previous years due to the stock market’s performance. Still, with the funds we’ve selected, you can expect returns that will consistently out-perform the market average.
“Just about one year ago, the market bottomed out and reached historic lows. No one could have predicted it was the perfect time to be investing,” Shane said. “The lesson here is to remain invested in your future and constantly contribute to your 401(k) to always be in a position to take advantage of great market conditions.”
You can check your 401(k) by visiting The Retirement Plan Company’s website: tprc.401k.com
Once you are on the website, you can:
- Check your 401(k) balance
- Find out how much you are contributing to your 401(k)
- Change your 401(k) contributions
- Select which of our funds you’d like to invest your 401(k) dollars
If you need help logging in or have questions, contact Wendy Green at wgreen@connorgroup.com