MIDWEST FASTENER CORP. 401(K) PLAN

Plan Contact

  • Address: 9031 SHAVER RD,PORTAGE,MI
  • Contact person: CINDY TYLER
  • Phone: (269) 327-6917

Plan General Information

MIDWEST FASTENER CORP. 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of MIDWEST FASTENER CORP. 401(K) PLAN is $11,633,617.00.This plan was established in 2018.

MIDWEST FASTENER CORP. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in MIDWEST FASTENER CORP. 401(K) PLAN is 614

MIDWEST FASTENER CORP. 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for MIDWEST FASTENER CORP. 401(K) PLAN is $18,947.00

MIDWEST FASTENER CORP. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for MIDWEST FASTENER CORP. 401(K) PLAN is $2,772.00.

MIDWEST FASTENER CORP. 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in MIDWEST FASTENER CORP. 401(K) PLAN is approximately $1,671.00
Investing in this additonal $1,671.00 for 20 years would give you extra $106,951.00, assuming a 10% annual return.

MIDWEST FASTENER CORP. 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, MIDWEST FASTENER CORP. 401(K) PLAN allocates $1,026,062.00 to match its employees' contributions, providing an employer match rate of 65.33% of their contributions

MIDWEST FASTENER CORP. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of MIDWEST FASTENER CORP. 401(K) PLAN is 42.25%.

MIDWEST FASTENER CORP. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for MIDWEST FASTENER CORP. 401(K) PLAN is 17.49%. This measures the effectiveness of the plan participants' investments in the year.

MIDWEST FASTENER CORP. 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of MIDWEST FASTENER CORP. 401(K) PLAN is 0.46%.

Enrollment Features

MIDWEST FASTENER CORP. 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.

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