FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES

Plan Contact

  • Address: 102 COOK ROAD,HASTINGS,MI
  • Contact person: CHRIS SNOW
  • Phone: (269) 945-3533

Plan General Information

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES is $8,980,056.00.This plan was established in 1996.

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES is 414

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES Average Participant Retirement Account Value

In 2023, the average participant retirement account value for FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES is $21,690.00

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES is $3,549.00.

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES is approximately $364.00
Investing in this additonal $364.00 for 20 years would give you extra $23,342.00, assuming a 10% annual return.

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES Total Employer Contribution and Match Rate

In 2023, FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES allocates $150,998.00 to match its employees' contributions, providing an employer match rate of 20.55% of their contributions

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES is 20.62%.

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES is 16.49%. This measures the effectiveness of the plan participants' investments in the year.

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES Expense Ratio

In 2023, the investment and administrative expense ratio of FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES is 0.25%.

Enrollment Features

FLEXFAB 401(K) PLAN FOR BARGAINING UNIT EMPLOYEES 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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