Retirement plan

FREUDENBERG COMPANIES 401(K) RETIREMENT PLAN

Name: FREUDENBERG NORTH AMERICA LIMITED PARTNERSHIP - FREUDENBERG COMPANIES 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: FREUDENBERG NORTH AMERICA LIMITED PARTNERSHIP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FREUDENBERG COMPANIES 401(K) RETIREMENT PLAN, FREUDENBERG NORTH AMERICA LIMITED PARTNERSHIP

FREUDENBERG NORTH AMERICA LIMITED PARTNERSHIPEIN 02-0383413Plan #002PY 2023

47774 WEST ANCHOR COURT - PLYMOUTH, MI 48170734-546-5748

Prospect flagsLow participant contributionFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed January 23, 2025

Plan administrator

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Freudenberg North America Limited Partnership - 47774 West Anchor Court

Plymouth, MI 48170

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Plans declared (1)

Freudenberg Companies Supplemental Executive Retirement Plan21 emp

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Total assets (EOY)

$572.3M

+17.1% from 2022

Total participants

7,877

+1.0% from 2022

Average account balance

$78,372

+13.1% from 2022

Annual return

18.03%

+33.91 pp from 2022

Benchmarks

See 57 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort57 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$619.22M

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

7,046

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.

88.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$47.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+12.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$110

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

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Service providers

Top 8 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 15 · EIN 84-0467907	Recordkeeping	$326,941
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 26 · EIN 84-1532243	Advisory (Participants)	$241,085
FREUDENBERG NORTH AMERICA LIMITED P1 year Service code 99 47774 W ANCHOR CT · PLYMOUTH, MI 48170	Other Fees	$97,187
SIKICH LLP5 years Service code 10 17335 GOLF PKWY STE 500 · BROOKFIELD, WI 530451128	Accounting	$25,485
PLANTE & MORAN, PLLC1 year Filed as: PLANTE AND MORAN PLCC Service code 29 16060 COLLECTIONS CENTER DRIVE · CHICAGO, IL 60693	Legal	$11,073
QDRO CONSULTANTS COMPANY, LLC6+ years Service code 16 3071 PEARL ROAD · MEDINA, OH 44256	Consulting	$1,200
GALLAGHER FIDUCIARY ADVISORS, LLC2 years Filed as: GALLAGHER BENEFIT SERVICES, INC Service code 16 6300 S SYRACUSE WAY · CONTENNIAL, CO 80111	Consulting	$0
ICEMILLER3 years Service code 27 200 W MADISON STREET · CHICAGO, IL 60606	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S3D3H2T2R

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant 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

$731K

$113 / participant

Recordkeeping$355K48.6%
Investment mgmt$332K45.4%
Other / not subdivided$44K6.1%

% of EOY assets

0.128%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: SIKICH CPA LLC
Auditor EIN: 541172176
Audit fees: $43,167
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$78,372

$136,310-42.5%

$98,439-20.4%

$103,482-24.3%

Participation rate

91.1%

89.2%+1.8pp

75.2%+15.9pp

73.3%+17.8pp

Annual return

18.03%

19.67%-1.6pp

21.16%-3.1pp

33.11%-15.1pp

Employer contribution / active EE

$2,834

$4,714-39.9%

$3,048-7.0%

$3,208-11.7%

Participant deferral / active EE

$4,049

$7,358-45.0%

$4,738-14.5%

$5,207-22.2%

Admin fee / account holder

$100

$76+31.4%

$8,948-98.9%

$114-12.4%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 15 · EIN 84-0467907

Recordkeeping

$326,941

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 26 · EIN 84-1532243

Advisory (Participants)

$241,085

FREUDENBERG NORTH AMERICA LIMITED P1 year

Service code 99

47774 W ANCHOR CT · PLYMOUTH, MI 48170

Other Fees

$97,187

SIKICH LLP5 years

Service code 10

17335 GOLF PKWY STE 500 · BROOKFIELD, WI 530451128

Accounting

$25,485

PLANTE & MORAN, PLLC1 year

Filed as: PLANTE AND MORAN PLCC

Service code 29

16060 COLLECTIONS CENTER DRIVE · CHICAGO, IL 60693

Legal

$11,073

QDRO CONSULTANTS COMPANY, LLC6+ years

Service code 16

3071 PEARL ROAD · MEDINA, OH 44256

Consulting

$1,200

GALLAGHER FIDUCIARY ADVISORS, LLC2 years

Filed as: GALLAGHER BENEFIT SERVICES, INC

Service code 16

6300 S SYRACUSE WAY · CONTENNIAL, CO 80111

Consulting

ICEMILLER3 years

Service code 27

200 W MADISON STREET · CHICAGO, IL 60606

Advisory (Plan)

FREUDENBERG COMPANIES 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FREUDENBERG COMPANIES 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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