MOTOR CITY ELECTRIC CO. RETIREMENT PLAN
Plan Contact
- Address: 9440 GRINNELL STREET,DETROIT,MI
- Contact person: PATRICK MITCHELL
- Phone: (313) 921-5300
Plan General Information
MOTOR CITY ELECTRIC CO. RETIREMENT PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of MOTOR CITY ELECTRIC CO. RETIREMENT PLAN is $41,103,561.00.This plan was established in 1984.
MOTOR CITY ELECTRIC CO. RETIREMENT PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in MOTOR CITY ELECTRIC CO. RETIREMENT PLAN is 308
MOTOR CITY ELECTRIC CO. RETIREMENT PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for MOTOR CITY ELECTRIC CO. RETIREMENT PLAN is $133,453.00
MOTOR CITY ELECTRIC CO. RETIREMENT PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for MOTOR CITY ELECTRIC CO. RETIREMENT PLAN is $11,060.00.
MOTOR CITY ELECTRIC CO. RETIREMENT PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in MOTOR CITY ELECTRIC CO. RETIREMENT PLAN is approximately $43.00
Investing in this additonal $43.00 for 20 years would give you extra $2,790.00, assuming a 10% annual return.
Investing in this additonal $43.00 for 20 years would give you extra $2,790.00, assuming a 10% annual return.
MOTOR CITY ELECTRIC CO. RETIREMENT PLAN Total Employer Contribution and Match Rate
In 2023, MOTOR CITY ELECTRIC CO. RETIREMENT PLAN allocates $13,428.00 to match its employees' contributions, providing an employer match rate of 0.79% of their contributions
MOTOR CITY ELECTRIC CO. RETIREMENT PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of MOTOR CITY ELECTRIC CO. RETIREMENT PLAN is 15.09%.
MOTOR CITY ELECTRIC CO. RETIREMENT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for MOTOR CITY ELECTRIC CO. RETIREMENT PLAN is 15.15%. This measures the effectiveness of the plan participants' investments in the year.
MOTOR CITY ELECTRIC CO. RETIREMENT PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of MOTOR CITY ELECTRIC CO. RETIREMENT PLAN is 0.02%.
Enrollment Features
MOTOR CITY ELECTRIC CO. RETIREMENT 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.
Self-directed Brokerage: It allows participants or employees to allocate part or all of its account to a self directed brokereage account as an investment option.
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