BOUMA GROUP, INC. RETIREMENT PLAN
Plan Contact
- Address: 4101 ROGER B CHAFFEE BLVD SE,GRAND RAPIDS,MI
- Contact person: KRISTA HURST
- Phone: (616) 538-3600
Plan General Information
BOUMA GROUP, INC. RETIREMENT PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of BOUMA GROUP, INC. RETIREMENT PLAN is $27,225,228.00.This plan was established in 1968.
BOUMA GROUP, INC. RETIREMENT PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in BOUMA GROUP, INC. RETIREMENT PLAN is 295
BOUMA GROUP, INC. RETIREMENT PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for BOUMA GROUP, INC. RETIREMENT PLAN is $92,288.00
BOUMA GROUP, INC. RETIREMENT PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for BOUMA GROUP, INC. RETIREMENT PLAN is $3,186.00.
BOUMA GROUP, INC. RETIREMENT PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in BOUMA GROUP, INC. RETIREMENT PLAN is approximately $2,537.00
Investing in this additonal $2,537.00 for 20 years would give you extra $162,420.00, assuming a 10% annual return.
Investing in this additonal $2,537.00 for 20 years would give you extra $162,420.00, assuming a 10% annual return.
BOUMA GROUP, INC. RETIREMENT PLAN Total Employer Contribution and Match Rate
In 2023, BOUMA GROUP, INC. RETIREMENT PLAN allocates $748,655.00 to match its employees' contributions, providing an employer match rate of 75.55% of their contributions
BOUMA GROUP, INC. RETIREMENT PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of BOUMA GROUP, INC. RETIREMENT PLAN is -7.76%.
BOUMA GROUP, INC. RETIREMENT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for BOUMA GROUP, INC. RETIREMENT PLAN is -3.45%. This measures the effectiveness of the plan participants' investments in the year.
BOUMA GROUP, INC. RETIREMENT PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of BOUMA GROUP, INC. RETIREMENT PLAN is 0.43%.
Enrollment Features
BOUMA GROUP, INC. RETIREMENT 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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