SHANNON PRECISION FASTENER 401(K)

Plan Contact

  • Address: 31600 STEPHENSON HIGHWAY,MADISON HEIGHTS,MI
  • Contact person: ED BOCCACCIO
  • Phone: (810) 348-7582

Plan General Information

SHANNON PRECISION FASTENER 401(K) Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of SHANNON PRECISION FASTENER 401(K) is $18,198,802.00.This plan was established in 2005.

SHANNON PRECISION FASTENER 401(K) Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in SHANNON PRECISION FASTENER 401(K) is 329

SHANNON PRECISION FASTENER 401(K) Average Participant Retirement Account Value

In 2023, the average participant retirement account value for SHANNON PRECISION FASTENER 401(K) is $55,315.00

SHANNON PRECISION FASTENER 401(K) Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for SHANNON PRECISION FASTENER 401(K) is $4,678.00.

SHANNON PRECISION FASTENER 401(K) Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in SHANNON PRECISION FASTENER 401(K) is approximately $3,186.00
Investing in this additonal $3,186.00 for 20 years would give you extra $203,954.00, assuming a 10% annual return.

SHANNON PRECISION FASTENER 401(K) Total Employer Contribution and Match Rate

In 2023, SHANNON PRECISION FASTENER 401(K) allocates $1,048,453.00 to match its employees' contributions, providing an employer match rate of 71.03% of their contributions

SHANNON PRECISION FASTENER 401(K) Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of SHANNON PRECISION FASTENER 401(K) is 23.26%.

SHANNON PRECISION FASTENER 401(K) Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for SHANNON PRECISION FASTENER 401(K) is 15.12%. This measures the effectiveness of the plan participants' investments in the year.

SHANNON PRECISION FASTENER 401(K) Expense Ratio

In 2023, the investment and administrative expense ratio of SHANNON PRECISION FASTENER 401(K) is 0.24%.

Enrollment Features

SHANNON PRECISION FASTENER 401(K) 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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