CHARDAM GEAR COMPANY, INC. 401(K) PLAN

Plan Contact

  • Address: 40805 MOUND ROAD,STERLING HEIGHTS,MI
  • Contact person: MELINDA CHAMBO
  • Phone: (586) 795-8900

Plan General Information

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of CHARDAM GEAR COMPANY, INC. 401(K) PLAN is $10,060,225.00.This plan was established in 1987.

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in CHARDAM GEAR COMPANY, INC. 401(K) PLAN is 169

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for CHARDAM GEAR COMPANY, INC. 401(K) PLAN is $59,527.00

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for CHARDAM GEAR COMPANY, INC. 401(K) PLAN is $3,860.00.

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in CHARDAM GEAR COMPANY, INC. 401(K) PLAN is approximately $1,720.00
Investing in this additonal $1,720.00 for 20 years would give you extra $110,124.00, assuming a 10% annual return.

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, CHARDAM GEAR COMPANY, INC. 401(K) PLAN allocates $290,798.00 to match its employees' contributions, providing an employer match rate of 46.07% of their contributions

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of CHARDAM GEAR COMPANY, INC. 401(K) PLAN is 16.04%.

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for CHARDAM GEAR COMPANY, INC. 401(K) PLAN is 13.49%. This measures the effectiveness of the plan participants' investments in the year.

CHARDAM GEAR COMPANY, INC. 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of CHARDAM GEAR COMPANY, INC. 401(K) PLAN is 0.20%.

Enrollment Features

CHARDAM GEAR COMPANY, INC. 401(K) 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.

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