OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN

At the end of 2022, the total retirement plan assets of OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN is $6,716,743.This plan was established in 1971.

At the end of 2022, the total number of retirement plan participants in OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN is 136

In 2022, the average participant retirement account value for OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN is $49,387

In 2022, the estimated average employee contribution amount per participant for OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN is $1,989

In 2022, the estimated average employer match for an employee in OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN is approximately $1,640

In 2022, OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN allocates $223,175 to match its employees’ contributions, providing an employer match rate of 72.84% of their contributions

In 2022, the total retirement plan asset growth rate of OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN is -23.44%

In 2022, the estimated aggregate retirement account investment gain/loss for OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN is -14.85%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN is 0.63%.

Enrollment Features

OMEGA ELECTRIC CONSTRUCTION COMPANY, INC. 401(K) PROFIT SHARING PLAN has the following features:
    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.