SUMMIT ELECTRIC SUPPLY CO. 401K PLAN
Plan Contact
- Address: P.O. BOX 6409,ALBUQUERQUE,NM
- Contact person: MICHELLE BLAIR
- Phone: (505) 346-2900
Plan General Information
SUMMIT ELECTRIC SUPPLY CO. 401K PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of SUMMIT ELECTRIC SUPPLY CO. 401K PLAN is $80,041,243.00.This plan was established in 1997.
SUMMIT ELECTRIC SUPPLY CO. 401K PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in SUMMIT ELECTRIC SUPPLY CO. 401K PLAN is 956
SUMMIT ELECTRIC SUPPLY CO. 401K PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for SUMMIT ELECTRIC SUPPLY CO. 401K PLAN is $83,725.00
SUMMIT ELECTRIC SUPPLY CO. 401K PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for SUMMIT ELECTRIC SUPPLY CO. 401K PLAN is $4,703.00.
SUMMIT ELECTRIC SUPPLY CO. 401K PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in SUMMIT ELECTRIC SUPPLY CO. 401K PLAN is approximately $1,046.00
Investing in this additonal $1,046.00 for 20 years would give you extra $66,950.00, assuming a 10% annual return.
Investing in this additonal $1,046.00 for 20 years would give you extra $66,950.00, assuming a 10% annual return.
SUMMIT ELECTRIC SUPPLY CO. 401K PLAN Total Employer Contribution and Match Rate
In 2023, SUMMIT ELECTRIC SUPPLY CO. 401K PLAN allocates $1,000,073.00 to match its employees' contributions, providing an employer match rate of 24.03% of their contributions
SUMMIT ELECTRIC SUPPLY CO. 401K PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of SUMMIT ELECTRIC SUPPLY CO. 401K PLAN is 17.72%.
SUMMIT ELECTRIC SUPPLY CO. 401K PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for SUMMIT ELECTRIC SUPPLY CO. 401K PLAN is 24.37%. This measures the effectiveness of the plan participants' investments in the year.
SUMMIT ELECTRIC SUPPLY CO. 401K PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of SUMMIT ELECTRIC SUPPLY CO. 401K PLAN is 0.06%.
Enrollment Features
SUMMIT ELECTRIC SUPPLY CO. 401K 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.
Self-directed Brokerage: It allows participants or employees to allocate part or all of its account to a self directed brokereage account as an investment option.
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