HARBEC 401(K) PLAN

At the end of 2022, the total retirement plan assets of HARBEC 401(K) PLAN is $10,655,027.This plan was established in 1989.

At the end of 2022, the total number of retirement plan participants in HARBEC 401(K) PLAN is 193

In 2022, the average participant retirement account value for HARBEC 401(K) PLAN is $55,207

In 2022, the estimated average employee contribution amount per participant for HARBEC 401(K) PLAN is $2,479

In 2022, the estimated average employer match for an employee in HARBEC 401(K) PLAN is approximately $1,115

In 2022, HARBEC 401(K) PLAN allocates $215,378 to match its employees’ contributions, providing an employer match rate of 45.96% of their contributions

In 2022, the total retirement plan asset growth rate of HARBEC 401(K) PLAN is -15.67%

In 2022, the estimated aggregate retirement account investment gain/loss for HARBEC 401(K) PLAN is -14.29%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of HARBEC 401(K) PLAN is 0.46%.

Enrollment Features

HARBEC 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.