ALTEK, INC. 401(K) PLAN
Plan Contact
- Address: 22819 E APPLEWAY AVE,LIBERTY LAKE,WA
- Contact person: LAURA VAUGHAN
- Phone: (509) 252-5736
Plan General Information
ALTEK, INC. 401(K) PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of ALTEK, INC. 401(K) PLAN is $7,039,215.00.This plan was established in 1990.
ALTEK, INC. 401(K) PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in ALTEK, INC. 401(K) PLAN is 213
ALTEK, INC. 401(K) PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for ALTEK, INC. 401(K) PLAN is $33,047.00
ALTEK, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for ALTEK, INC. 401(K) PLAN is $2,253.00.
ALTEK, INC. 401(K) PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in ALTEK, INC. 401(K) PLAN is approximately $507.00
Investing in this additonal $507.00 for 20 years would give you extra $32,491.00, assuming a 10% annual return.
Investing in this additonal $507.00 for 20 years would give you extra $32,491.00, assuming a 10% annual return.
ALTEK, INC. 401(K) PLAN Total Employer Contribution and Match Rate
In 2023, ALTEK, INC. 401(K) PLAN allocates $108,136.00 to match its employees' contributions, providing an employer match rate of 22.22% of their contributions
ALTEK, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of ALTEK, INC. 401(K) PLAN is 21.79%.
ALTEK, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for ALTEK, INC. 401(K) PLAN is 15.85%. This measures the effectiveness of the plan participants' investments in the year.
ALTEK, INC. 401(K) PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of ALTEK, INC. 401(K) PLAN is 0.59%.
Enrollment Features
ALTEK, INC. 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.
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