HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN

Plan Contact

  • Address: 152 SIMPSON DRIVE,LITCHFIELD,MI
  • Contact person: RIZWAN MIRZA
  • Phone: (248) 221-9473

Plan General Information

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN is $66,003,499.00.This plan was established in 1992.

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN is 1538

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN is $42,915.00

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN is $6,523.00.

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN is approximately $942.00
Investing in this additonal $942.00 for 20 years would give you extra $60,288.00, assuming a 10% annual return.

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN allocates $1,448,818.00 to match its employees' contributions, providing an employer match rate of 28.88% of their contributions

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN is 2.01%.

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN is 13.24%. This measures the effectiveness of the plan participants' investments in the year.

HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of HI-LEX EMPLOYEES RETIREMENT SAVINGS PLAN is 0.42%.

Enrollment Features

HI-LEX EMPLOYEES RETIREMENT 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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