LOCAL 344 ANNUITY FUND PLAN

Plan Overview & Key Metrics

LOCAL 344 ANNUITY FUND PLAN is a defined contribution retirement plan offered by PLUMBERS AND PIPEFITTERS LOCAL 344. Below is a snapshot of the plan’s financial health, participant activity, and employer generosity based on publicly filed data. Use these metrics to benchmark your own contributions and see how this plan compares to peers.

LOCAL 344 ANNUITY FUND PLAN Total Retirement Plan Assets

At the end of 2024, the total retirement plan assets of LOCAL 344 ANNUITY FUND PLAN is $61,601,037.00.This plan was established in 2003.

LOCAL 344 ANNUITY FUND PLAN Total Number of Retirement Plan Participants

At the end of 2024, the total number of retirement plan participants in LOCAL 344 ANNUITY FUND PLAN is 1508

LOCAL 344 ANNUITY FUND PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for LOCAL 344 ANNUITY FUND PLAN is $40,849.00

LOCAL 344 ANNUITY FUND PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for LOCAL 344 ANNUITY FUND PLAN is $575.00.

LOCAL 344 ANNUITY FUND PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in LOCAL 344 ANNUITY FUND PLAN is approximately $2,104.00
Investing in this additonal $2,104.00 for 20 years would give you extra $134,694.00, assuming a 10% annual return.

LOCAL 344 ANNUITY FUND PLAN Total Employer Contribution and Match Rate

In 2024, LOCAL 344 ANNUITY FUND PLAN allocates $3,173,742.00 to match its employees’ contributions, providing an employer match rate of 387.61% of their contributions

LOCAL 344 ANNUITY FUND PLAN Total Retirement Plan Asset Growth Rate

In 2024, the total retirement plan asset growth rate of LOCAL 344 ANNUITY FUND PLAN is 11.60%.

LOCAL 344 ANNUITY FUND PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2024, the estimated aggregate retirement account investment gain/loss for LOCAL 344 ANNUITY FUND PLAN is 13.20%. This measures the effectiveness of the plan participants’ investments in the year.

LOCAL 344 ANNUITY FUND PLAN Expense Ratio

In 2024, the investment and administrative expense ratio of LOCAL 344 ANNUITY FUND PLAN is 0.45%.

* Data are from public filings.

Plan Administrator & Contact

Need to reach the plan administrator, update beneficiaries, or request a distribution? Use the contact details below. If the plan uses an external recordkeeper (such as Fidelity, Vanguard, or Empower), their portal is typically the fastest way to manage your account day to day.

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Enrollment & Brokerage Features

The following features describe how LOCAL 344 ANNUITY FUND PLAN handles enrollment, default investments, and access to self-directed brokerage windows. Plans that offer auto-enrollment tend to have higher participation rates, and a brokerage window can give you access to investments beyond the plan’s core lineup.

LOCAL 344 ANNUITY FUND 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.

What Should You Do Next?

Your 401(k) is likely your single largest wealth-building tool. Here is how to make the most of LOCAL 344 ANNUITY FUND PLAN:

  1. Contribute enough to capture the full employer match. This is free money — see the match details on the Contribution & Match page.
  2. Review your investment allocation. Make sure your mix of stocks, bonds, and other assets matches your age and risk tolerance. Check available investment options.
  3. Keep your beneficiary designations current. Life events (marriage, divorce, children) mean your beneficiary form may need updating.
  4. Increase contributions over time. Even a 1% annual bump can add tens of thousands to your retirement balance over a career.

Use our 401(k) Savings Calculator to project how your current contribution rate translates into retirement wealth, or try the Asset Allocation Calculator to find an allocation that fits your risk profile.

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