MITEC 401(K) EMPLOYEE SAVINGS PLAN

Plan Contact

  • Address: 4000 FOSTORIA AVENUE,FINDLAY,OH
  • Contact person: JAMES MORDEN
  • Phone: (567) 525-5606

Plan General Information

MITEC 401(K) EMPLOYEE SAVINGS PLAN Total Retirement Plan Assets

At the end of 2019, the total retirement plan assets of MITEC 401(K) EMPLOYEE SAVINGS PLAN is $1,192,717.00.This plan was established in 2018.

MITEC 401(K) EMPLOYEE SAVINGS PLAN Total Number of Retirement Plan Participants

At the end of 2019, the total number of retirement plan participants in MITEC 401(K) EMPLOYEE SAVINGS PLAN is 234

MITEC 401(K) EMPLOYEE SAVINGS PLAN Average Participant Retirement Account Value

In 2019, the average participant retirement account value for MITEC 401(K) EMPLOYEE SAVINGS PLAN is $5,097.00

MITEC 401(K) EMPLOYEE SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2019, the estimated average employee contribution amount per participant for MITEC 401(K) EMPLOYEE SAVINGS PLAN is $3,173.00.

MITEC 401(K) EMPLOYEE SAVINGS PLAN Estimated Average Employer Match

In 2019, the estimated average employer match for an employee in MITEC 401(K) EMPLOYEE SAVINGS PLAN is approximately $1,142.00
Investing in this additonal $1,142.00 for 20 years would give you extra $73,090.00, assuming a 10% annual return.

MITEC 401(K) EMPLOYEE SAVINGS PLAN Total Employer Contribution and Match Rate

In 2019, MITEC 401(K) EMPLOYEE SAVINGS PLAN allocates $267,238.00 to match its employees' contributions, providing an employer match rate of 71.96% of their contributions

MITEC 401(K) EMPLOYEE SAVINGS PLAN Total Retirement Plan Asset Growth Rate

In 2019, the total retirement plan asset growth rate of MITEC 401(K) EMPLOYEE SAVINGS PLAN is 134.97%.

MITEC 401(K) EMPLOYEE SAVINGS PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2019, the estimated aggregate retirement account investment gain/loss for MITEC 401(K) EMPLOYEE SAVINGS PLAN is 20.67%. This measures the effectiveness of the plan participants' investments in the year.

MITEC 401(K) EMPLOYEE SAVINGS PLAN Expense Ratio

In 2019, the investment and administrative expense ratio of MITEC 401(K) EMPLOYEE SAVINGS PLAN is 2.44%.

Enrollment Features

MITEC 401(K) EMPLOYEE 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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