RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN

Plan Contact

  • Address: 50985 NATIONAL ROAD SUITE 2,ST. CLAIRESVILLE,OH
  • Phone: (740) 619-8090

Plan General Information

RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN Total Retirement Plan Assets

At the end of 2023, the total retirement plan assets of RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN is $15,586,288.00.This plan was established in 1993.

RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN Total Number of Retirement Plan Participants

At the end of 2023, the total number of retirement plan participants in RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN is 325

RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN is $47,957.00

RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN is $4,216.00.

RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN is approximately $932.00
Investing in this additonal $932.00 for 20 years would give you extra $59,696.00, assuming a 10% annual return.

RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN Total Employer Contribution and Match Rate

In 2023, RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN allocates $303,148.00 to match its employees' contributions, providing an employer match rate of 24.09% of their contributions

RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN Total Retirement Plan Asset Growth Rate

In 2023, the total retirement plan asset growth rate of RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN is 16.81%.

RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2023, the estimated aggregate retirement account investment gain/loss for RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN is 15.05%. This measures the effectiveness of the plan participants' investments in the year.

RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN Expense Ratio

In 2023, the investment and administrative expense ratio of RECO EQUIPMENT, INC. 401(K) SAVINGS PLAN is 0.05%.

Enrollment Features

RECO EQUIPMENT, INC. 401(K) SAVINGS 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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