HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN
Plan Contact
- Address: 6050 HI TEK CT,MASON,OH
- Contact person: GARY COLBURN
- Phone: (513) 459-1094
Plan General Information
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN is $16,437,341.00.This plan was established in 1987.
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN is 207
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN is $79,407.00
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN is $4,580.00.
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN is approximately $1,494.00
Investing in this additonal $1,494.00 for 20 years would give you extra $95,663.00, assuming a 10% annual return.
Investing in this additonal $1,494.00 for 20 years would give you extra $95,663.00, assuming a 10% annual return.
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN Total Employer Contribution and Match Rate
In 2023, HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN allocates $309,413.00 to match its employees' contributions, providing an employer match rate of 32.40% of their contributions
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN is 8.38%.
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN is 15.90%. This measures the effectiveness of the plan participants' investments in the year.
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT PLAN is 0.39%.
Enrollment Features
HI-TEK MANUFACTURING, INC. RETIREMENT BENEFIT 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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