Retirement plan

METAL COMPANIES 401K PLAN

Name: PAYROLL & INSURANCE GROUP INC - METAL COMPANIES 401K PLAN (2022) Form 5500
Creator: PAYROLL & INSURANCE GROUP INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METAL COMPANIES 401K PLAN, PAYROLL & INSURANCE GROUP INC

PAYROLL & INSURANCE GROUP INCEIN 01-0606601Plan #003PY 2022

555 SKOKIE BOULEVARD, SUITE 555 - NORTHBROOK, IL 60062847-480-4690LinkedIn1001-5000 employeesindividual & family services

Other plans on this EIN

1 filing

#002Retirement-$186.0M assets

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$109.7M

-19.0% from 2016

Total participants

1,450

+3.8% from 2016

Average account balance

$75,635

-20.3% from 2016

Annual return

-17.88%

-5.47 pp from 2016

Benchmarks

See 900 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort900 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$159.16M

Not enough data

1 years with asset history on file

Average account balance

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

$134K

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.

1,192

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.

97.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$14.78M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+14.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY GLOBAL BANKING OPERA Service code 27 · EIN 20-8764829	Advisory (Plan)	$47,606
PRUDENTIAL RETIREMENT INSURANCE AND8+ years Service code 13 · EIN 06-1050034	Contract Administrator	$42,517

Plan features & details

Pension benefit codes2E2F2G2J3D2S2T

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$92K

$79 / participant

Investment mgmt$48K51.9%
Contract admin$43K46.3%
Other / not subdivided$2K1.8%

% of EOY assets

0.084%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GRANT THORNTON, LLP
Auditor EIN: 366055558
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$75,635

$95,388-20.7%

$125,401-39.7%

$77,906-2.9%

Participation rate

100.0%

78.6%+21.4pp

82.4%+17.6pp

73.7%+26.3pp

Annual return

-17.88%

116.19%-134.1pp

572.53%-590.4pp

12.16%-30.0pp

Employer contribution / active EE

$4,512

$3,666+23.1%

$4,816-6.3%

$2,846+58.5%

Participant deferral / active EE

$6,134

$7,711-20.4%

$7,448-17.6%

$4,805+27.7%

Admin fee / account holder

$63

$119-46.7%

$10,008-99.4%

$133-52.3%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY3 years

Filed as: MORGAN STANLEY GLOBAL BANKING OPERA

Service code 27 · EIN 20-8764829

Advisory (Plan)

$47,606

PRUDENTIAL RETIREMENT INSURANCE AND8+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$42,517

METAL COMPANIES 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METAL COMPANIES 401K 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