KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN

Plan Contact

  • Address: 27275 HAGGERTY RD SUITE 610,NOVI,MI
  • Contact person: DANIELLE O'CONNELL
  • Phone: (248) 468-1309

Plan General Information

KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN is $44,522,437.00.This plan was established in 1997.

KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN is 675

KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN is $65,959.00

KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN is $3,412.00.

KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN is approximately $1,295.00
Investing in this additonal $1,295.00 for 20 years would give you extra $82,899.00, assuming a 10% annual return.

KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN allocates $874,332.00 to match its employees' contributions, providing an employer match rate of 37.51% of their contributions

KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN is 13.49%.

KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN is 17.14%. This measures the effectiveness of the plan participants' investments in the year.

KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of KONGSBERG AUTOMOTIVE, INC. 401(K) PLAN is 0.19%.

Enrollment Features

KONGSBERG AUTOMOTIVE, 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.
    Self-directed Brokerage: It allows participants or employees to allocate part or all of its account to a self directed brokereage account as an investment option.

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