FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN

Plan Contact

  • Address: 14806 DETROIT AVENUE,LAKEWOOD,OH
  • Contact person: DEBRA B. KAPUT
  • Phone: (216) 529-2614

Plan General Information

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN is $39,673,554.00.This plan was established in 1994.

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN is 569

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN is $69,725.00

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN is $4,450.00.

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN is approximately $3,661.00
Investing in this additonal $3,661.00 for 20 years would give you extra $234,365.00, assuming a 10% annual return.

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN allocates $2,083,653.00 to match its employees' contributions, providing an employer match rate of 80.72% of their contributions

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN is 18.22%.

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN is 17.57%. This measures the effectiveness of the plan participants' investments in the year.

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of FIRST MUTUAL HOLDING CO. 401(K) SAVINGS PLAN is 0.22%.

Enrollment Features

FIRST MUTUAL HOLDING CO. 401(K) SAVINGS 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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