SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN
Plan Contact
- Address: 2127 AYRSLEY TOWN BLVD.,,CHALOTTE,NC
- Contact person: BRAD TROUP
- Phone: (704) 588-1091
Plan General Information
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN is $9,339,158.00.This plan was established in 2002.
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN is 243
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN is $38,432.00
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN is $5,236.00.
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN is approximately $918.00
Investing in this additonal $918.00 for 20 years would give you extra $58,762.00, assuming a 10% annual return.
Investing in this additonal $918.00 for 20 years would give you extra $58,762.00, assuming a 10% annual return.
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN Total Employer Contribution and Match Rate
In 2023, SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN allocates $223,114.00 to match its employees' contributions, providing an employer match rate of 35.07% of their contributions
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN is 18.00%.
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN is 6.70%. This measures the effectiveness of the plan participants' investments in the year.
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT PLAN is 0.24%.
Enrollment Features
SOLVE INDUSTRIAL MOTION GROUP, LLC RETIREMENT 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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