TEAM INDUSTRIES 401(K) PLAN
Plan Contact
- Address: 105 PARK AVE NW,BAGLEY,MN
- Contact person: CHAD ARMSTRONG
- Phone: (218) 694-3550
Plan General Information
TEAM INDUSTRIES 401(K) PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of TEAM INDUSTRIES 401(K) PLAN is $94,539,641.00.This plan was established in 1994.
TEAM INDUSTRIES 401(K) PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in TEAM INDUSTRIES 401(K) PLAN is 1282
TEAM INDUSTRIES 401(K) PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for TEAM INDUSTRIES 401(K) PLAN is $73,743.00
TEAM INDUSTRIES 401(K) PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for TEAM INDUSTRIES 401(K) PLAN is $3,746.00.
TEAM INDUSTRIES 401(K) PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in TEAM INDUSTRIES 401(K) PLAN is approximately $1,934.00
Investing in this additonal $1,934.00 for 20 years would give you extra $123,813.00, assuming a 10% annual return.
Investing in this additonal $1,934.00 for 20 years would give you extra $123,813.00, assuming a 10% annual return.
TEAM INDUSTRIES 401(K) PLAN Total Employer Contribution and Match Rate
In 2023, TEAM INDUSTRIES 401(K) PLAN allocates $2,480,130.00 to match its employees' contributions, providing an employer match rate of 52.69% of their contributions
TEAM INDUSTRIES 401(K) PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of TEAM INDUSTRIES 401(K) PLAN is 14.66%.
TEAM INDUSTRIES 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for TEAM INDUSTRIES 401(K) PLAN is 15.55%. This measures the effectiveness of the plan participants' investments in the year.
TEAM INDUSTRIES 401(K) PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of TEAM INDUSTRIES 401(K) PLAN is 0.28%.
Enrollment Features
TEAM INDUSTRIES 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.
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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