SUMMIT RACING EQUIPMENT RETIREMENT PLAN
Plan Contact
- Address: 1200 SOUTHEAST AVENUE,TALLMADGE,OH
- Contact person: PATRICK RAWLEY
- Phone: (330) 634-2139
Plan General Information
SUMMIT RACING EQUIPMENT RETIREMENT PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of SUMMIT RACING EQUIPMENT RETIREMENT PLAN is $213,524,508.00.This plan was established in 1987.
SUMMIT RACING EQUIPMENT RETIREMENT PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in SUMMIT RACING EQUIPMENT RETIREMENT PLAN is 2230
SUMMIT RACING EQUIPMENT RETIREMENT PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for SUMMIT RACING EQUIPMENT RETIREMENT PLAN is $95,750.00
SUMMIT RACING EQUIPMENT RETIREMENT PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for SUMMIT RACING EQUIPMENT RETIREMENT PLAN is $3,510.00.
SUMMIT RACING EQUIPMENT RETIREMENT PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in SUMMIT RACING EQUIPMENT RETIREMENT PLAN is approximately $4,008.00
Investing in this additonal $4,008.00 for 20 years would give you extra $256,565.00, assuming a 10% annual return.
Investing in this additonal $4,008.00 for 20 years would give you extra $256,565.00, assuming a 10% annual return.
SUMMIT RACING EQUIPMENT RETIREMENT PLAN Total Employer Contribution and Match Rate
In 2023, SUMMIT RACING EQUIPMENT RETIREMENT PLAN allocates $8,939,689.00 to match its employees' contributions, providing an employer match rate of 122.98% of their contributions
SUMMIT RACING EQUIPMENT RETIREMENT PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of SUMMIT RACING EQUIPMENT RETIREMENT PLAN is 26.88%.
SUMMIT RACING EQUIPMENT RETIREMENT PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for SUMMIT RACING EQUIPMENT RETIREMENT PLAN is 20.24%. This measures the effectiveness of the plan participants' investments in the year.
SUMMIT RACING EQUIPMENT RETIREMENT PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of SUMMIT RACING EQUIPMENT RETIREMENT PLAN is 0.11%.
Enrollment Features
SUMMIT RACING EQUIPMENT 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.
Self-directed Brokerage: It allows participants or employees to allocate part or all of its account to a self directed brokereage account as an investment option.
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