MEDICA 401(K) MATCHED SAVINGS PLAN

Plan Contact

  • Address: MAIL ROUTE CP175,,MINNETONKA,MN
  • Contact person: MISSY DURANT
  • Phone: (952) 992-3888

Plan General Information

MEDICA 401(K) MATCHED SAVINGS PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of MEDICA 401(K) MATCHED SAVINGS PLAN is $412,078,405.00.This plan was established in 2002.

MEDICA 401(K) MATCHED SAVINGS PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in MEDICA 401(K) MATCHED SAVINGS PLAN is 3353

MEDICA 401(K) MATCHED SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for MEDICA 401(K) MATCHED SAVINGS PLAN is $122,898.00

MEDICA 401(K) MATCHED SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for MEDICA 401(K) MATCHED SAVINGS PLAN is $8,235.00.

MEDICA 401(K) MATCHED SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in MEDICA 401(K) MATCHED SAVINGS PLAN is approximately $4,049.00
Investing in this additonal $4,049.00 for 20 years would give you extra $259,165.00, assuming a 10% annual return.

MEDICA 401(K) MATCHED SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, MEDICA 401(K) MATCHED SAVINGS PLAN allocates $13,577,822.00 to match its employees' contributions, providing an employer match rate of 58.92% of their contributions

MEDICA 401(K) MATCHED SAVINGS PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of MEDICA 401(K) MATCHED SAVINGS PLAN is 31.90%.

MEDICA 401(K) MATCHED SAVINGS PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for MEDICA 401(K) MATCHED SAVINGS PLAN is 17.98%. This measures the effectiveness of the plan participants' investments in the year.

MEDICA 401(K) MATCHED SAVINGS PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of MEDICA 401(K) MATCHED SAVINGS PLAN is 0.08%.

Enrollment Features

MEDICA 401(K) MATCHED SAVINGS 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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