ARMADA RETIREMENT SAVINGS PLAN

At the end of 2022, the total retirement plan assets of ARMADA RETIREMENT SAVINGS PLAN is $51,165,928.This plan was established in 2002.

At the end of 2022, the total number of retirement plan participants in ARMADA RETIREMENT SAVINGS PLAN is 636

In 2022, the average participant retirement account value for ARMADA RETIREMENT SAVINGS PLAN is $80,449

In 2022, the estimated average employee contribution amount per participant for ARMADA RETIREMENT SAVINGS PLAN is $5,655

In 2022, the estimated average employer match for an employee in ARMADA RETIREMENT SAVINGS PLAN is approximately $3,099

In 2022, ARMADA RETIREMENT SAVINGS PLAN allocates $1,971,110 to match its employees’ contributions, providing an employer match rate of 58.83% of their contributions

In 2022, the total retirement plan asset growth rate of ARMADA RETIREMENT SAVINGS PLAN is -15.46%

In 2022, the estimated aggregate retirement account investment gain/loss for ARMADA RETIREMENT SAVINGS PLAN is -16.85%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of ARMADA RETIREMENT SAVINGS PLAN is 0.20%.

Enrollment Features

ARMADA RETIREMENT 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.