MAGNA MACHINE CO. 401(K) PLAN
Plan Contact
- Address: 11180 SOUTHLAND ROAD,CINCINNATI,OH
- Phone: (513) 851-6900
Plan General Information
MAGNA MACHINE CO. 401(K) PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of MAGNA MACHINE CO. 401(K) PLAN is $7,844,312.00.This plan was established in 1963.
MAGNA MACHINE CO. 401(K) PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in MAGNA MACHINE CO. 401(K) PLAN is 185
MAGNA MACHINE CO. 401(K) PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for MAGNA MACHINE CO. 401(K) PLAN is $42,401.00
MAGNA MACHINE CO. 401(K) PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for MAGNA MACHINE CO. 401(K) PLAN is $3,462.00.
MAGNA MACHINE CO. 401(K) PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in MAGNA MACHINE CO. 401(K) PLAN is approximately $824.00
Investing in this additonal $824.00 for 20 years would give you extra $52,740.00, assuming a 10% annual return.
Investing in this additonal $824.00 for 20 years would give you extra $52,740.00, assuming a 10% annual return.
MAGNA MACHINE CO. 401(K) PLAN Total Employer Contribution and Match Rate
In 2023, MAGNA MACHINE CO. 401(K) PLAN allocates $152,452.00 to match its employees' contributions, providing an employer match rate of 25.53% of their contributions
MAGNA MACHINE CO. 401(K) PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of MAGNA MACHINE CO. 401(K) PLAN is 12.43%.
MAGNA MACHINE CO. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for MAGNA MACHINE CO. 401(K) PLAN is 17.28%. This measures the effectiveness of the plan participants' investments in the year.
MAGNA MACHINE CO. 401(K) PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of MAGNA MACHINE CO. 401(K) PLAN is 0.11%.
Enrollment Features
MAGNA MACHINE CO. 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.
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