OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN

Plan Contact

  • Address: 8000 E. JEFFERSON AVENUE,DETROIT,MI
  • Phone: (313) 926-5000

Plan General Information

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN is $18,647,796.00.This plan was established in 2001.

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN is 371

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN is $50,263.00

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN is $2,388.00.

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN is approximately $801.00
Investing in this additonal $801.00 for 20 years would give you extra $51,308.00, assuming a 10% annual return.

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN Total Employer Contribution and Match Rate

In 2023, OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN allocates $297,429.00 to match its employees' contributions, providing an employer match rate of 34.59% of their contributions

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN is 13.23%.

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN is 20.56%. This measures the effectiveness of the plan participants' investments in the year.

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of OPEIU LOCAL 494-UAW EMPLOYEES 401(K) PLAN is 0.05%.

Enrollment Features

OPEIU LOCAL 494-UAW EMPLOYEES 401(K) 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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