GREAT NECK TOOLS, INC. 401(K) PLAN

Plan Contact

  • Address: 165 EAST SECOND STREET,MINEOLA,NY
  • Contact person: RICHARD HOLLINGSWORTH
  • Phone: (516) 746-5352

Plan General Information

GREAT NECK TOOLS, INC. 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of GREAT NECK TOOLS, INC. 401(K) PLAN is $19,556,671.00.This plan was established in 1963.

GREAT NECK TOOLS, INC. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in GREAT NECK TOOLS, INC. 401(K) PLAN is 469

GREAT NECK TOOLS, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for GREAT NECK TOOLS, INC. 401(K) PLAN is $41,698.00

GREAT NECK TOOLS, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for GREAT NECK TOOLS, INC. 401(K) PLAN is $3,715.00.

GREAT NECK TOOLS, INC. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in GREAT NECK TOOLS, INC. 401(K) PLAN is approximately $1,371.00
Investing in this additonal $1,371.00 for 20 years would give you extra $87,783.00, assuming a 10% annual return.

GREAT NECK TOOLS, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, GREAT NECK TOOLS, INC. 401(K) PLAN allocates $643,292.00 to match its employees' contributions, providing an employer match rate of 73.84% of their contributions

GREAT NECK TOOLS, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of GREAT NECK TOOLS, INC. 401(K) PLAN is 8.08%.

GREAT NECK TOOLS, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for GREAT NECK TOOLS, INC. 401(K) PLAN is 11.38%. This measures the effectiveness of the plan participants' investments in the year.

GREAT NECK TOOLS, INC. 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of GREAT NECK TOOLS, INC. 401(K) PLAN is 0.16%.

Enrollment Features

GREAT NECK TOOLS, INC. 401(K) PLAN has the following features:
    Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.

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