MAJOR DRILLING AMERICA, INC. 401(K) PLAN

Plan Contact

  • Address: 2200 S 4400 W,SALT LAKE CITY,UT
  • Contact person: SARA PETERSON
  • Phone: (801) 974-0645

Plan General Information

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of MAJOR DRILLING AMERICA, INC. 401(K) PLAN is $27,236,258.00.This plan was established in 2005.

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in MAJOR DRILLING AMERICA, INC. 401(K) PLAN is 672

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for MAJOR DRILLING AMERICA, INC. 401(K) PLAN is $40,530.00

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for MAJOR DRILLING AMERICA, INC. 401(K) PLAN is $6,189.00.

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in MAJOR DRILLING AMERICA, INC. 401(K) PLAN is approximately $1,828.00
Investing in this additonal $1,828.00 for 20 years would give you extra $117,023.00, assuming a 10% annual return.

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, MAJOR DRILLING AMERICA, INC. 401(K) PLAN allocates $1,228,748.00 to match its employees' contributions, providing an employer match rate of 36.23% of their contributions

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of MAJOR DRILLING AMERICA, INC. 401(K) PLAN is 26.37%.

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for MAJOR DRILLING AMERICA, INC. 401(K) PLAN is 17.83%. This measures the effectiveness of the plan participants' investments in the year.

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of MAJOR DRILLING AMERICA, INC. 401(K) PLAN is 0.27%.

Enrollment Features

MAJOR DRILLING AMERICA, INC. 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.

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