MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST
Plan Contact
- Address: 3340 NW 53RD STREET, SUITE #402,FORT LAUDERDALE,FL
- Contact person: DEMETRA MCNAIR
- Phone: (954) 590-9496
Plan General Information
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST is $27,261,949.00.This plan was established in 1993.
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST is 660
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST Average Participant Retirement Account Value
In 2023, the average participant retirement account value for MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST is $41,305.00
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST is $7,333.00.
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST is approximately $2,321.00
Investing in this additonal $2,321.00 for 20 years would give you extra $148,580.00, assuming a 10% annual return.
Investing in this additonal $2,321.00 for 20 years would give you extra $148,580.00, assuming a 10% annual return.
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST Total Employer Contribution and Match Rate
In 2023, MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST allocates $1,532,235.00 to match its employees' contributions, providing an employer match rate of 39.91% of their contributions
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST is 51.83%.
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST is 21.49%. This measures the effectiveness of the plan participants' investments in the year.
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST Expense Ratio
In 2023, the investment and administrative expense ratio of MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST is 0.02%.
Enrollment Features
MAYORS JEWELERS, INC. 401(K) PROFIT SHARING PLAN AND TRUST 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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