What is MAJOR DRILLING AMERICA, INC. 401(K) PLAN's employer match?

In 2024, MAJOR DRILLING AMERICA, INC. 401(K) PLAN reported $1,090,876 in employer contributions. That is about 36.1% of reported employee contributions.

How many participants are in MAJOR DRILLING AMERICA, INC. 401(K) PLAN?

At the end of 2024, MAJOR DRILLING AMERICA, INC. 401(K) PLAN reported 1,059 plan participants.

What are MAJOR DRILLING AMERICA, INC. 401(K) PLAN's total assets?

At the end of 2024, MAJOR DRILLING AMERICA, INC. 401(K) PLAN reported total plan assets of $31,510,318.

When was MAJOR DRILLING AMERICA, INC. 401(K) PLAN established?

MAJOR DRILLING AMERICA, INC. 401(K) PLAN was established in 2005.

What are the investment options in MAJOR DRILLING AMERICA, INC. 401(K) PLAN?

MyPlanIQ tracks the investment lineup for MAJOR DRILLING AMERICA, INC. 401(K) PLAN on its investment options page: https://www.myplaniq.com/invest/planinvestments/major-drilling-america-inc-401k-plan/

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MAJOR DRILLING AMERICA, INC. 401(K) PLAN

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Contribution & Savings

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for MAJOR DRILLING AMERICA, INC. 401(K) PLAN is $29,754.00

MAJOR DRILLING AMERICA, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for MAJOR DRILLING AMERICA, INC. 401(K) PLAN is $4,076.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
260,908.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 4,076.00 in MAJOR DRILLING AMERICA, INC. 401(K) PLAN, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

	Pretax and roth employee contributions	Employee and employer contributions combined	Catch-up contributions (in addition to the employee and employer combined limit, age 50 and over)
401(k) contribution limit for 2023	$22,500	$66,000	$7,500
401(k) contribution limit for 2024	$23,000	$69,000	$7,500

$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.

$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!

Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.

Keep researching MAJOR DRILLING AMERICA, INC. 401(K) PLAN

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