SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN

Plan Contact

  • Address: 10 COMMERCE DRIVE,GAFFNEY,SC
  • Contact person: TAMARA FULLER
  • Phone: (864) 649-2806

Plan General Information

SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN is $2,945,364.00.This plan was established in 2004.

SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN is 205

SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN is $14,367.00

SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN is $939.00.

SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN is approximately $485.00
Investing in this additonal $485.00 for 20 years would give you extra $31,103.00, assuming a 10% annual return.

SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN allocates $99,627.00 to match its employees' contributions, providing an employer match rate of 39.57% of their contributions

SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN is 11.17%.

SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN is 18.16%. This measures the effectiveness of the plan participants' investments in the year.

SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of SUMINOE TEXTILE OF AMERICA CORP. 401(K) PLAN is 1.38%.

Enrollment Features

SUMINOE TEXTILE OF AMERICA CORP. 401(K) 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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