Retirement plan

SALEM GLASS 401K PLAN

Name: SALEM GLASS COMPANY - SALEM GLASS 401K PLAN (2022) Form 5500
Creator: SALEM GLASS COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SALEM GLASS 401K PLAN, SALEM GLASS COMPANY

SALEM GLASS COMPANYEIN 04-2034080Plan #001PY 2022

3 TECHNOLOGY WAY - SALEM, MA 01970978-744-5177salemglass.comLinkedIn51-200 employeesconstruction

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$6.9M

-24.3% from 2021

Total participants

+6.5% from 2021

Average account balance

$143,211

-30.6% from 2021

Annual return

-21.04%

-39.24 pp from 2021

Benchmarks

See 17,344 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort17,344 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.92M

Not enough data

1 years with asset history on file

Average account balance

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

$260K

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.

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.

87.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$531K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+20.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8093

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 codes2E2F2G2J2T3D

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$777K

$20995 / participant

Other / not subdivided$777K100.0%

% of EOY assets

11.301%

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

$143,211

$64,719+121.3%

$112,249+27.6%

$68,486+109.1%

Participation rate

97.3%

67.2%+30.1pp

75.1%+22.2pp

67.9%+29.4pp

Annual return

-21.04%

-11.40%-9.6pp

27.48%-48.5pp

-7.85%-13.2pp

Employer contribution / active EE

$3,095

$2,747+12.7%

$3,636-14.9%

$2,597+19.2%

Participant deferral / active EE

$9,806

$3,565+175.1%

$4,729+107.4%

$4,028+143.5%

Admin fee / account holder

$16,184

$5,232+209.3%

$6,412+152.4%

$5,404+199.5%

SALEM GLASS 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SALEM GLASS 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