Retirement plan

FREUDENBERG COMPANIES 401(K) RETIREMENT PLAN

Name: FREUDENBERG NORTH AMERICA LP - FREUDENBERG COMPANIES 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: FREUDENBERG NORTH AMERICA LP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FREUDENBERG COMPANIES 401(K) RETIREMENT PLAN, FREUDENBERG NORTH AMERICA LP

FREUDENBERG NORTH AMERICA LPEIN 02-0383413Plan #002PY 2024

47774 WEST ANCHOR COURT - PLYMOUTH, MI 48170734-354-5319

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)

$619.2M

-19.5% from 2019

Total participants

7,756

+4.8% from 2019

Average account balance

$87,882

-19.1% from 2019

Annual return

12.51%

-32.46 pp from 2019

Benchmarks

See 53 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort53 peers

Snapshot2024

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

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 15 · EIN 84-0467907	Recordkeeping	$352,146
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 26 · EIN 84-1532243	Advisory (Participants)	$290,244
FREUDENBERG NORTH AMERICA LIMITED P2 years Service code 99 47774 W ANCHOR CT · PLYMOUTH, MI 48170	Other Fees	$76,728
SIKICH LLP6 years Service code 10 17335 GOLF PKWY STE 500 · BROOKFIELD, WI 530451128	Accounting	$26,405
QDRO CONSULTANTS COMPANY, LLC1 year Filed as: QDRO CONSULTANTS Service code 16 · EIN 34-1820650	Consulting	$900

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

$775K

$130 / participant

Recordkeeping$438K56.5%
Investment mgmt$308K39.7%
Other trustee fees$9000.1%
Other / not subdivided$28K3.7%

% of EOY assets

0.125%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SIKICH CPA LLC
Auditor EIN: 541172176
Audit fees: $28,404
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,882

$153,784-42.9%

$105,624-16.8%

$99,313-11.5%

Participation rate

88.1%

92.3%-4.1pp

75.3%+12.9pp

71.7%+16.4pp

Annual return

12.51%

14.98%-2.5pp

116.20%-103.7pp

17.67%-5.2pp

Employer contribution / active EE

$3,306

$5,293-37.5%

$3,168+4.4%

$3,264+1.3%

Participant deferral / active EE

$4,577

$8,286-44.8%

$5,013-8.7%

$5,346-14.4%

Admin fee / account holder

$110

$77+42.2%

$10,961-99.0%

$109+0.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 15 · EIN 84-0467907

Recordkeeping

$352,146

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 26 · EIN 84-1532243

Advisory (Participants)

$290,244

FREUDENBERG NORTH AMERICA LIMITED P2 years

Service code 99

47774 W ANCHOR CT · PLYMOUTH, MI 48170

Other Fees

$76,728

SIKICH LLP6 years

Service code 10

17335 GOLF PKWY STE 500 · BROOKFIELD, WI 530451128

Accounting

$26,405

QDRO CONSULTANTS COMPANY, LLC1 year

Filed as: QDRO CONSULTANTS

Service code 16 · EIN 34-1820650

Consulting

$900

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