ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN
Plan Contact
- Address: 3100 E. HIGH STREET,JACKSON,MI
- Contact person: JAMES E NORMAN
- Phone: (517) 787-5500
Plan General Information
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN is $407,888,378.00.This plan was established in 1957.
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN is 4638
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN is $87,944.00
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN is $3,870.00.
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN is approximately $4,623.00
Investing in this additonal $4,623.00 for 20 years would give you extra $295,874.00, assuming a 10% annual return.
Investing in this additonal $4,623.00 for 20 years would give you extra $295,874.00, assuming a 10% annual return.
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN Total Employer Contribution and Match Rate
In 2023, ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN allocates $21,441,647.00 to match its employees' contributions, providing an employer match rate of 126.92% of their contributions
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN is 0.34%.
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN is 1.34%. This measures the effectiveness of the plan participants' investments in the year.
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/401(K) PLAN is 0.22%.
Enrollment Features
ALRO STEEL CORPORATION AND SUBSIDIARIES RETIREMENT/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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