Retirement plan

SALEM GLASS 401K PLAN

Name: SALEM GLASS COMPANY - SALEM GLASS 401K PLAN (2023) 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 2023

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$8.9M

+29.4% from 2022

Total participants

-6.1% from 2022

Average account balance

$197,594

+38.0% from 2022

Annual return

25.55%

+46.59 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

$12.51M

Not enough data

1 years with asset history on file

Average account balance

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

$329K

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.

91.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$515K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+18.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$25361

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

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

$284K

$7483 / participant

Other / not subdivided$284K100.0%

% of EOY assets

3.198%

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

$197,594

$73,955+167.2%

$96,520+104.7%

$75,181+162.8%

Participation rate

97.4%

66.4%+30.9pp

74.3%+23.0pp

67.2%+30.2pp

Annual return

25.55%

26.72%-1.2pp

35.72%-10.2pp

160.69%-135.1pp

Employer contribution / active EE

$3,341

$2,930+14.0%

$3,739-10.6%

$2,671+25.1%

Participant deferral / active EE

$10,894

$3,659+197.7%

$4,879+123.3%

$4,126+164.0%

Admin fee / account holder

$6,319

$5,217+21.1%

$6,733-6.2%

$5,650+11.8%

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