Retirement plan

GENERAL WIRE PRODUCTS, INC. 401(K) PLAN

Name: GENERAL WIRE PRODUCTS, INC. - GENERAL WIRE PRODUCTS, INC. 401(K) PLAN (2020) Form 5500
Creator: GENERAL WIRE PRODUCTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GENERAL WIRE PRODUCTS, INC. 401(K) PLAN, GENERAL WIRE PRODUCTS, INC.

GENERAL WIRE PRODUCTS, INC.EIN 04-2858973Plan #001PY 2020

425 SHREWSBURY - WORCESTER, MA 01604508-752-8260generalwireproducts.comLinkedIn11-50 employeesmachinery

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$2.7M

+18.6% from 2019

Total participants

-5.0% from 2019

Average account balance

$181,776

+26.5% from 2019

Annual return

15.11%

-7.22 pp from 2019

Benchmarks

See 21,451 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,451 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.43M

Not enough data

1 years with asset history on file

Average account balance

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

$201K

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.

71.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$91K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+19.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1434

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 codes2F2G2J2T3D

Plan features

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

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

$9K

$554 / participant

Other / not subdivided$9K100.0%

% of EOY assets

0.325%

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

$181,776

$112,112+62.1%

$95,956+89.4%

$158,950+14.4%

Participation rate

75.0%

79.0%-4.0pp

77.1%-2.1pp

82.0%-7.0pp

Annual return

15.11%

171.15%-156.0pp

91.63%-76.5pp

302.91%-287.8pp

Employer contribution / active EE

$3,199-100.0%

$2,541-100.0%

$4,762-100.0%

Participant deferral / active EE

$5,518

$4,784+15.3%

$4,167+32.4%

$5,983-7.8%

Admin fee / account holder

$591

$10,134-94.2%

$6,797-91.3%

$11,248-94.7%

GENERAL WIRE PRODUCTS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GENERAL WIRE PRODUCTS, INC. 401(K) 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