MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN
Plan Contact
- Address: 1600 51ST ST NE,CEDAR RAPIDS,IA
- Contact person: TRACY KLEES
- Phone: (319) 393-6300
Plan General Information
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN is $45,363,262.00.This plan was established in 1973.
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN is 793
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN is $57,204.00
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN is $3,582.00.
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN is approximately $1,364.00
Investing in this additonal $1,364.00 for 20 years would give you extra $87,344.00, assuming a 10% annual return.
Investing in this additonal $1,364.00 for 20 years would give you extra $87,344.00, assuming a 10% annual return.
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN Total Employer Contribution and Match Rate
In 2023, MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN allocates $1,082,254.00 to match its employees' contributions, providing an employer match rate of 38.88% of their contributions
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN is 19.69%.
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN is 18.25%. This measures the effectiveness of the plan participants' investments in the year.
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of MCGRATH AUTOMOTIVE GROUP, INC. 401(K) PLAN is 0.34%.
Enrollment Features
MCGRATH AUTOMOTIVE GROUP, INC. 401(K) 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.
Self-directed Brokerage: It allows participants or employees to allocate part or all of its account to a self directed brokereage account as an investment option.
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