Retirement plan

PHOENIX WELDING 401(K) PROFIT SHARING PLAN

Name: PHOENIX WELDING - PHOENIX WELDING 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: PHOENIX WELDING
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHOENIX WELDING 401(K) PROFIT SHARING PLAN, PHOENIX WELDING

PHOENIX WELDINGEIN 01-0410460Plan #001PY 2023

101 MCALISTER FARM RD - PORTLAND, ME 04103207-797-5832phoenixwelding.comLinkedIn51-200 employeesconstruction

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$10.2M

+18.1% from 2022

Total participants

+12.0% from 2022

Average account balance

$116,832

+0.4% from 2022

Annual return

18.06%

+35.13 pp from 2022

Benchmarks

See 18,047 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,047 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$12.10M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$118K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

103

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

130.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$884K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+18.13%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$13673

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J2G3D2F2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$743K

$10176 / participant

Other / not subdivided$743K100.0%

% of EOY assets

7.308%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$116,832

$73,955+58.0%

$96,520+21.0%

$75,181+55.4%

Participation rate

91.8%

66.4%+25.4pp

74.3%+17.4pp

67.2%+24.6pp

Annual return

18.06%

26.72%-8.7pp

35.72%-17.7pp

160.69%-142.6pp

Employer contribution / active EE

$2,791

$2,930-4.7%

$3,739-25.4%

$2,671+4.5%

Participant deferral / active EE

$7,004

$3,659+91.4%

$4,879+43.6%

$4,126+69.8%

Admin fee / account holder

$8,538

$5,217+63.7%

$6,733+26.8%

$5,650+51.1%

PHOENIX WELDING 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHOENIX WELDING 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion