How many participants are in HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN?

At the end of 2016, HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN reported 213 plan participants.

What are HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN's total assets?

At the end of 2016, HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN reported total plan assets of $10,241,261.

What are the investment options in HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN?

MyPlanIQ tracks the investment lineup for HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/hytek-material-handling-inc-401k-pension-plan-1/

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Q: When was HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN established?

HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN was established in 1990.

HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN

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Contribution & Savings

HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN Average Participant Retirement Account Value

In 2016, the average participant retirement account value for HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN is $48,081.00

HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN Estimated Average Employee Contribution Amount

In 2016, the estimated average employee contribution amount per participant for HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN is $7,567.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
484,348.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,567.00 in HY-TEK MATERIAL HANDLING, INC 401(K) PENSION PLAN, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

	Pretax and roth employee contributions	Employee and employer contributions combined	Catch-up contributions (in addition to the employee and employer combined limit, age 50 and over)
401(k) contribution limit for 2023	$22,500	$66,000	$7,500
401(k) contribution limit for 2024	$23,000	$69,000	$7,500

$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.

$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!

Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.

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