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MELWAY GROUP, INC. 401(K) RETIREMENT PLAN

Plan Contact

  • Address: 7571 S.R. 83,HOLMESVILLE,OH
  • Contact person: STEVE SCHLABACH
  • Phone: (330) 279-9000

Plan General Information

MELWAY GROUP, INC. 401(K) RETIREMENT PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of MELWAY GROUP, INC. 401(K) RETIREMENT PLAN is $13,311,905.00.This plan was established in 1986.

MELWAY GROUP, INC. 401(K) RETIREMENT PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in MELWAY GROUP, INC. 401(K) RETIREMENT PLAN is 167

MELWAY GROUP, INC. 401(K) RETIREMENT PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for MELWAY GROUP, INC. 401(K) RETIREMENT PLAN is $79,712.00

MELWAY GROUP, INC. 401(K) RETIREMENT PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for MELWAY GROUP, INC. 401(K) RETIREMENT PLAN is $9,124.00.

MELWAY GROUP, INC. 401(K) RETIREMENT PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in MELWAY GROUP, INC. 401(K) RETIREMENT PLAN is approximately $3,867.00
Investing in this additonal $3,867.00 for 20 years would give you extra $247,538.00, assuming a 10% annual return.

MELWAY GROUP, INC. 401(K) RETIREMENT PLAN Total Employer Contribution and Match Rate

In 2023, MELWAY GROUP, INC. 401(K) RETIREMENT PLAN allocates $645,920.00 to match its employees' contributions, providing an employer match rate of 84.78% of their contributions

MELWAY GROUP, INC. 401(K) RETIREMENT PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of MELWAY GROUP, INC. 401(K) RETIREMENT PLAN is 19.90%.

MELWAY GROUP, INC. 401(K) RETIREMENT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for MELWAY GROUP, INC. 401(K) RETIREMENT PLAN is 15.38%. This measures the effectiveness of the plan participants' investments in the year.

MELWAY GROUP, INC. 401(K) RETIREMENT PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of MELWAY GROUP, INC. 401(K) RETIREMENT PLAN is 0.40%.

Enrollment Features

MELWAY GROUP, INC. 401(K) RETIREMENT 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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