Retirement plan

ELY TOOL, INC. PROFIT SHARING 401(K) PLAN & TRUST

Name: ELY TOOL, INC. - ELY TOOL, INC. PROFIT SHARING 401(K) PLAN & TRUST (2023) Form 5500
Creator: ELY TOOL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ELY TOOL, INC. PROFIT SHARING 401(K) PLAN & TRUST, ELY TOOL, INC.

ELY TOOL, INC.EIN 04-2640887Plan #001PY 2023

455 COTTAGE STREET - SPRINGFIELD, MA 01104413-785-1601LinkedIn11-50 employeeselectrical/electronic manufacturing

Prospect flagsHigh feesLow participationLow employer contribution

How to read this page

Total assets (EOY)

$2.2M

+21.1% from 2022

Total participants

+5.9% from 2022

Average account balance

$186,242

+21.1% from 2022

Annual return

15.32%

+27.50 pp from 2022

Benchmarks

See 22,620 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,620 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.16M

Not enough data

1 years with asset history on file

Average account balance

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

$263K

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.

75.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$133K

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

+13.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4118

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 codes2E2F2G2J3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$28K

$1647 / participant

Other / not subdivided$28K100.0%

% of EOY assets

1.253%

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

$186,242

$110,270+68.9%

$96,564+92.9%

$139,500+33.5%

Participation rate

64.7%

78.1%-13.4pp

76.0%-11.3pp

80.3%-15.6pp

Annual return

15.32%

26.43%-11.1pp

25.89%-10.6pp

373.99%-358.7pp

Employer contribution / active EE

$671

$3,623-81.5%

$2,967-77.4%

$4,755-85.9%

Participant deferral / active EE

$7,046

$5,550+27.0%

$4,852+45.2%

$6,713+5.0%

Admin fee / account holder

$2,333

$11,606-79.9%

$8,256-71.7%

$11,410-79.5%

ELY TOOL, INC. PROFIT SHARING 401(K) PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ELY TOOL, INC. PROFIT SHARING 401(K) PLAN & TRUST

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