Retirement plan

SEAMAN PAPER CO. OF MA. AND SUBSIDIARIES SALARIED EMPLOYEES RETIREMENT SAVINGS PLAN

Name: SEAMAN PAPER CO. OF MA AND SUBSIDIARIES - SEAMAN PAPER CO. OF MA. AND SUBSIDIARIES SALARIED EMPLOYEES RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: SEAMAN PAPER CO. OF MA AND SUBSIDIARIES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEAMAN PAPER CO. OF MA. AND SUBSIDIARIES SALARIED EMPLOYEES RETIREMENT SAVINGS PLAN, SEAMAN PAPER CO. OF MA AND SUBSIDIARIES

SEAMAN PAPER CO. OF MA AND SUBSIDIARIESEIN 04-2184201Plan #003PY 2023

35 WILKINS RD - GARDNER, MA 01440978-939-5356

Other plans on this EIN

1 filing

#001Retirement-$5.3M assets

Prospect flagsLow returnsHigh feesLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$27.3M

+2.9% from 2022

Total participants

381

+35.1% from 2022

Average account balance

$113,576

+4.2% from 2022

Annual return

10.37%

+18.18 pp from 2022

Benchmarks

See 1,152 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,152 peers

Snapshot2023

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$29.21M

Not enough data

1 years with asset history on file

Average account balance

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

$125K

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.

234

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.

67.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.11M

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

+13.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$460

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$84,748
SUMMIT FINANCIAL CORPORATION5 years Service code 13 · EIN 04-3222046 7 N.E. EXECUTIVE PARK · BURLINGTON, MA 01803	Contract Administrator	$57,010
MASSACHUSETTS MUTUAL LIFE INS. CO.6 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 64 · EIN 04-1590850	Recordkeeping Fees	$44,297
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27 4340 REDWOOD HWY · SAN RAFAEL, CA 94903	Advisory (Plan)	$32,409

Plan features & details

Pension benefit codes2E2F2G2J2K2R3D3H

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$129K

$406 / participant

Investment mgmt$43K33.4%
Contract admin$1K0.9%
Other / not subdivided$85K65.7%

% of EOY assets

0.473%

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: S & G LLP
Auditor EIN: 042701070
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$113,576

$84,784+34.0%

$98,439+15.4%

$74,419+52.6%

Participation rate

55.7%

81.5%-25.9pp

75.2%-19.5pp

70.7%-15.1pp

Annual return

10.37%

20.59%-10.2pp

21.16%-10.8pp

34.38%-24.0pp

Employer contribution / active EE

$2,615

$3,364-22.3%

$3,048-14.2%

$2,637-0.8%

Participant deferral / active EE

$4,058

$5,218-22.2%

$4,738-14.4%

$4,528-10.4%

Admin fee / account holder

$538

$204+163.0%

$8,948-94.0%

$348+54.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$84,748

SUMMIT FINANCIAL CORPORATION5 years

Service code 13 · EIN 04-3222046

7 N.E. EXECUTIVE PARK · BURLINGTON, MA 01803

Contract Administrator

$57,010

MASSACHUSETTS MUTUAL LIFE INS. CO.6 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 64 · EIN 04-1590850

Recordkeeping Fees

$44,297

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27

4340 REDWOOD HWY · SAN RAFAEL, CA 94903

Advisory (Plan)

$32,409

SEAMAN PAPER CO. OF MA. AND SUBSIDIARIES SALARIED EMPLOYEES RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEAMAN PAPER CO. OF MA. AND SUBSIDIARIES SALARIED EMPLOYEES RETIREMENT SAVINGS 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