FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN
Plan Contact
- Address: 839 SEWARD AVE NW,GRAND RAPIDS,MI
- Contact person: STEPHANIE WHITE
- Phone: (616) 459-6257
Plan General Information
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN is $2,783,740.00.This plan was established in 1968.
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN is 149
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN is $18,682.00
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN is $3,142.00.
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN is approximately $357.00
Investing in this additonal $357.00 for 20 years would give you extra $22,852.00, assuming a 10% annual return.
Investing in this additonal $357.00 for 20 years would give you extra $22,852.00, assuming a 10% annual return.
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN Total Employer Contribution and Match Rate
In 2023, FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN allocates $53,203.00 to match its employees' contributions, providing an employer match rate of 22.72% of their contributions
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN is 5.87%.
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN is 16.58%. This measures the effectiveness of the plan participants' investments in the year.
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of FERRIS COFFEE & NUT COMPANY EMPLOYEE'S PROFIT SHARING PLAN is 0.13%.
Enrollment Features
FERRIS COFFEE & NUT COMPANY EMPLOYEE'S 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.
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