MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN
Plan Contact
- Address: ONE SOUTH STREET, 9TH FLOOR,BALTIMORE,MD
- Contact person: MICHELLE WILLIAMS
- Phone: (410) 752-8313
Plan General Information
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN is $23,848,471.00.This plan was established in 2018.
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN is 348
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN is $68,530.00
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN is $8,348.00.
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN is approximately $1,853.00
Investing in this additonal $1,853.00 for 20 years would give you extra $118,643.00, assuming a 10% annual return.
Investing in this additonal $1,853.00 for 20 years would give you extra $118,643.00, assuming a 10% annual return.
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN Total Employer Contribution and Match Rate
In 2023, MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN allocates $645,122.00 to match its employees' contributions, providing an employer match rate of 44.41% of their contributions
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN is 22.42%.
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN is 18.21%. This measures the effectiveness of the plan participants' investments in the year.
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION PLAN is 0.17%.
Enrollment Features
MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE DEFINED CONTRIBUTION 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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