NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN

Plan Contact

  • Address: 201 NEXT TECHNOLOGY DRIVE,MADISON,AL
  • Contact person: ANNETTE STATUM
  • Phone: (256) 772-0400

Plan General Information

NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN is $9,103,581.00.This plan was established in 1998.

NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN is 182

NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN is $50,019.00

NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN is $3,339.00.

NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN is approximately $1,642.00
Investing in this additonal $1,642.00 for 20 years would give you extra $105,113.00, assuming a 10% annual return.

NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2023, NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN allocates $298,917.00 to match its employees' contributions, providing an employer match rate of 48.38% of their contributions

NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN is 8.99%.

NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN is 16.02%. This measures the effectiveness of the plan participants' investments in the year.

NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of NEXTEK, INC. EMPLOYEE 401(K) RETIREMENT PLAN is 0.25%.

Enrollment Features

NEXTEK, INC. EMPLOYEE 401(K) 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.

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