L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN
Plan Contact
- Address: 944 CORPORATE LANE,CHESAPEAKE,VA
- Phone: (757) 436-9300
Plan General Information
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN is $11,678,670.00.This plan was established in 1981.
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN is 105
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN is $111,225.00
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN is $4,094.00.
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN is approximately $4,664.00
Investing in this additonal $4,664.00 for 20 years would give you extra $298,538.00, assuming a 10% annual return.
Investing in this additonal $4,664.00 for 20 years would give you extra $298,538.00, assuming a 10% annual return.
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN Total Employer Contribution and Match Rate
In 2023, L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN allocates $489,789.00 to match its employees' contributions, providing an employer match rate of 109.25% of their contributions
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN is 15.73%.
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN is 9.31%. This measures the effectiveness of the plan participants' investments in the year.
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) PROFIT SHARING PLAN is 0.06%.
Enrollment Features
L. E. BALLANCE ELECTRICAL SERVICE, INC. 401(K) 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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