KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN
Plan Contact
- Address: 2555 TATE BOULEVARD S.E.,HICKORY,NC
- Contact person: CHRISTOPH KLINGSPOR
- Phone: (828) 326-0240
Plan General Information
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN is $11,672,069.00.This plan was established in 1989.
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN is 323
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN is $36,136.00
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN is $2,123.00.
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN is approximately $1,015.00
Investing in this additonal $1,015.00 for 20 years would give you extra $65,007.00, assuming a 10% annual return.
Investing in this additonal $1,015.00 for 20 years would give you extra $65,007.00, assuming a 10% annual return.
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate
In 2023, KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN allocates $328,085.00 to match its employees' contributions, providing an employer match rate of 46.46% of their contributions
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN is -1.67%.
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN is 15.11%. This measures the effectiveness of the plan participants' investments in the year.
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT PLAN is 0.47%.
Enrollment Features
KLINGSPOR ABRASIVES, INC. 401(K) RETIREMENT 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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