LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN
Plan Contact
- Address: 8300 LANE DRIVE,WATERVLIET,MI
- Contact person: DAN LENTERS
- Phone: (269) 463-4113
Plan General Information
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN is $23,168,129.00.This plan was established in 1986.
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN is 498
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN is $46,522.00
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN is $2,784.00.
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN is approximately $1,656.00
Investing in this additonal $1,656.00 for 20 years would give you extra $106,017.00, assuming a 10% annual return.
Investing in this additonal $1,656.00 for 20 years would give you extra $106,017.00, assuming a 10% annual return.
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN Total Employer Contribution and Match Rate
In 2023, LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN allocates $824,949.00 to match its employees' contributions, providing an employer match rate of 66.95% of their contributions
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN is 18.94%.
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN is 14.28%. This measures the effectiveness of the plan participants' investments in the year.
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) PLAN is 0.05%.
Enrollment Features
LANE AUTOMOTIVE INC. PROFIT SHARING / 401(K) 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.
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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