DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN
Plan Contact
- Address: 84 MARGINAL WAY, SUITE 600,PORTLAND,ME
- Contact person: JOSHUA FLOWERS
- Phone: (207) 772-1941
Plan General Information
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN is $78,690,669.00.This plan was established in 1978.
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN is 188
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN is $418,567.00
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN is $12,073.00.
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN is approximately $10,876.00
Investing in this additonal $10,876.00 for 20 years would give you extra $696,117.00, assuming a 10% annual return.
Investing in this additonal $10,876.00 for 20 years would give you extra $696,117.00, assuming a 10% annual return.
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN Total Employer Contribution and Match Rate
In 2023, DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN allocates $2,044,846.00 to match its employees' contributions, providing an employer match rate of 97.62% of their contributions
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN is 14.31%.
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN is 15.50%. This measures the effectiveness of the plan participants' investments in the year.
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING PLAN is 0.01%.
Enrollment Features
DRUMMOND, WOODSUM & MACMAHON, P.A. PROFIT SHARING 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.
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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