MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN

Plan Contact

  • Address: 130 - 23RD AVENUE SW,ROCHESTER,MN
  • Contact person: MARY HANSEN
  • Phone: (507) 535-1460

Plan General Information

MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN is $4,560,382.00.This plan was established in 2015.

MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN is 134

MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN is $34,032.00

MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN is $4,626.00.

MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN is approximately $2,265.00
Investing in this additonal $2,265.00 for 20 years would give you extra $144,975.00, assuming a 10% annual return.

MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN allocates $303,543.00 to match its employees' contributions, providing an employer match rate of 51.26% of their contributions

MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN is 44.51%.

MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN is 16.98%. This measures the effectiveness of the plan participants' investments in the year.

MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of MAYO EMPLOYEES FEDERAL CREDIT UNION 401(K) PLAN is 0.40%.

Enrollment Features

MAYO EMPLOYEES FEDERAL CREDIT UNION 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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