LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN

At the end of 2022, the total retirement plan assets of LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN is $9,561,890.This plan was established in 1968.

At the end of 2022, the total number of retirement plan participants in LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN is 107

In 2022, the average participant retirement account value for LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN is $89,363

In 2022, the estimated average employee contribution amount per participant for LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN is $3,275

In 2022, the estimated average employer match for an employee in LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN is approximately $4,247

In 2022, LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN allocates $454,485 to match its employees’ contributions, providing an employer match rate of 126.71% of their contributions

In 2022, the total retirement plan asset growth rate of LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN is -9.40%

In 2022, the estimated aggregate retirement account investment gain/loss for LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN is -13.78%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES RETIREMENT PLAN is 0.93%.

Enrollment Features

LORD ELECTRIC COMPANY OF PUERTO RICO, INC EMPLOYEES 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.