Carter Machinery Company, Inc. 401(k) Plan: Login, Facts & Contact Information

Carter Machinery Company, Inc. 401(k) Plan Facts

Plan name
EMPLOYEES' RETIREMENT AND SAVINGS PLAN OF CARTER MACHINERY COMPANY, INC.
Plan type
401(k) with employer contributions and profit sharing
Plan sponsor
CARTER MACHINERY COMPANY, INC.
Participants
3,191 (3,101 active employees)
Former employees with a balance
264
Plan assets
$466,213,622 at Dec 31, 2024
Average account balance
$139,878 across 3,333 accounts
Employer contributions
$18,865,240 in plan year 2024 (44% of all contributions)
Recordkeeper
Empower Annuity Insurance Company O
Plan year
Jan 1, 2024 – Dec 31, 2024
Plan established
Jan 1, 1992
✓ Employer contributions✓ Automatic enrollment✓ Default investment for undecided participants✓ Participants choose their own investments— Self-directed brokerage window✓ Profit sharing— Company stock (ESOP)

Source: Form 5500 for plan year 2024 (Jan 1, 2024 – Dec 31, 2024), filed Oct 15, 2025. Public filing with the U.S. Department of Labor.

Money in and out in plan year 2024

  • $43.3 million went into the plan in contributions, $18.9 million of it from the employer (44%).
  • $36.0 million was paid out to participants.
  • Investment and other income added $53.3 million.
  • Administrative expenses were $171,390, about $51 per account.

How the Carter Machinery Company, Inc. 401(k) changed, 2019–2024

Plan yearParticipantsPlan assetsEmployer contributionsBenefits paid
20191,417$253.5 million$7.27 million$13.9 million
20201,535$350.2 million$9.62 million$25.0 million
20212,153$392.0 million$11.9 million$31.9 million
20222,448$340.8 million$14.0 million$20.8 million
20232,872$405.8 million$16.3 million$26.3 million
20243,191$466.2 million$18.9 million$36.0 million

Carter Machinery Company, Inc. 401(k) Contact Information

Phone
540-682-2906
Mailing address
1330 LYNCHBURG TPKE., SALEM VA 24153
Plan sponsor
CARTER MACHINERY COMPANY, INC.
Employer identification number (EIN)
37-1170559
Plan number
004

Questions about the Carter Machinery Company, Inc. 401(k)

Does Carter Machinery Company, Inc contribute to the 401(k)?

Yes. The plan reports an employer contribution arrangement. In plan year 2024 the employer contributed $18.9 million, 44% of all contributions.

Does the Carter Machinery Company, Inc 401(k) have automatic enrollment?

Yes. The plan reports automatic enrollment of eligible employees.

How many people are in the Carter Machinery Company, Inc 401(k) plan?

3,191 participants at the start of plan year 2024, 3,101 of them active employees, and 264 former employees who still had money in the plan.

What is the average 401(k) balance at Carter Machinery Company, Inc?

About $139,878 per account: $466.2 million in plan assets across 3,333 accounts with a balance at the end of plan year 2024.

Who manages the Carter Machinery Company, Inc 401(k) accounts?

Empower (listed on the filing as EMPOWER ANNUITY INSURANCE COMPANY O) is the plan's recordkeeper, which is where participants log in to see their balance.

I no longer work at Carter Machinery Company, Inc. How do I access my 401(k)?

Your account stays with Empower after you leave, so you can log in with the same credentials. If your balance was small, the plan may have rolled it into an IRA in your name. If you can't find it, Beagle can locate it for you.

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