SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN

Plan Contact

  • Address: 22750 PILLSBURY AVE.,LAKEVILLE,MN
  • Contact person: JAY YOUNG
  • Phone: (952) 985-7542

Plan General Information

SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN is $10,269,662.00.This plan was established in 1995.

SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN is 560

SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN is $18,338.00

SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN is $3,730.00.

SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN is approximately $895.00
Investing in this additonal $895.00 for 20 years would give you extra $57,330.00, assuming a 10% annual return.

SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN allocates $501,645.00 to match its employees' contributions, providing an employer match rate of 48.02% of their contributions

SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN is 13.17%.

SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN is 10.62%. This measures the effectiveness of the plan participants' investments in the year.

SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of SCHMITTY & SONS SCHOOL BUSES, INC. 401(K) PLAN is 0.88%.

Enrollment Features

SCHMITTY & SONS SCHOOL BUSES, 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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