PANEL PROCESSING, INC. 401(K) PLAN

Plan Contact

  • Address: 1030 DEVERE DR.,ALPENA,MI
  • Contact person: ERIC SMITH
  • Phone: (989) 356-9007

Plan General Information

PANEL PROCESSING, INC. 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of PANEL PROCESSING, INC. 401(K) PLAN is $6,042,941.00.This plan was established in 2002.

PANEL PROCESSING, INC. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in PANEL PROCESSING, INC. 401(K) PLAN is 231

PANEL PROCESSING, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for PANEL PROCESSING, INC. 401(K) PLAN is $26,159.00

PANEL PROCESSING, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for PANEL PROCESSING, INC. 401(K) PLAN is $1,101.00.

PANEL PROCESSING, INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in PANEL PROCESSING, INC. 401(K) PLAN is approximately $89.00
Investing in this additonal $89.00 for 20 years would give you extra $5,754.00, assuming a 10% annual return.

PANEL PROCESSING, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, PANEL PROCESSING, INC. 401(K) PLAN allocates $20,770.00 to match its employees' contributions, providing an employer match rate of 7.51% of their contributions

PANEL PROCESSING, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of PANEL PROCESSING, INC. 401(K) PLAN is 6.32%.

PANEL PROCESSING, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for PANEL PROCESSING, INC. 401(K) PLAN is 18.67%. This measures the effectiveness of the plan participants' investments in the year.

PANEL PROCESSING, INC. 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of PANEL PROCESSING, INC. 401(K) PLAN is 0.64%.

Enrollment Features

PANEL PROCESSING, INC. 401(K) 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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