NAVY FEDERAL 401(K) SAVINGS PLAN
Overview
Plan Contact
- Address: PO BOX 3000,MERRIFIELD,VA
- Contact person: EMILY FAHIM
- Phone: (703) 206-4772
Plan General Information
At the end of 2022, the total retirement plan assets of NAVY FEDERAL 401(K) SAVINGS PLAN is $2,011,644,666.This plan was established in 1997.
At the end of 2022, the total number of retirement plan participants in NAVY FEDERAL 401(K) SAVINGS PLAN is 23867
In 2022, the average participant retirement account value for NAVY FEDERAL 401(K) SAVINGS PLAN is $84,285
In 2022, the estimated average employee contribution amount per participant for NAVY FEDERAL 401(K) SAVINGS PLAN is $6,634
In 2022, the estimated average employer match for an employee in NAVY FEDERAL 401(K) SAVINGS PLAN is approximately $4,164
In 2022, NAVY FEDERAL 401(K) SAVINGS PLAN allocates $99,397,697 to match its employees’ contributions, providing an employer match rate of 66.13% of their contributions
In 2022, the total retirement plan asset growth rate of NAVY FEDERAL 401(K) SAVINGS PLAN is -10.75%
In 2022, the estimated aggregate retirement account investment gain/loss for NAVY FEDERAL 401(K) SAVINGS PLAN is -17.28%. This measures the effectiveness of the plan participants’ investments in the year.
In 2022, the investment and administrative expense ratio of NAVY FEDERAL 401(K) SAVINGS PLAN is 0.05%.
Enrollment Features
NAVY FEDERAL 401(K) 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.