THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN
Plan Contact
- Address: 927 SOUTH IRBY STREET,FLORENCE,SC
- Contact person: DAWN PARROTT
- Phone: (843) 661-0210
Plan General Information
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN is $5,805,423.00.This plan was established in 1994.
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN is 268
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN is $21,662.00
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN is $3,960.00.
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN is approximately $1,622.00
Investing in this additonal $1,622.00 for 20 years would give you extra $103,866.00, assuming a 10% annual return.
Investing in this additonal $1,622.00 for 20 years would give you extra $103,866.00, assuming a 10% annual return.
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN Total Employer Contribution and Match Rate
In 2023, THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN allocates $434,940.00 to match its employees' contributions, providing an employer match rate of 81.95% of their contributions
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN is 23.20%.
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN is 11.60%. This measures the effectiveness of the plan participants' investments in the year.
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION PLAN is 0.88%.
Enrollment Features
THE PARROTT GROUP, INC. 401(K) SALARY REDUCTION 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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