Retirement plan

AMSC 401(K) SAVINGS PLAN

Name: AMERICAN SUPERCONDUCTOR CORPORATION - AMSC 401(K) SAVINGS PLAN (2023) Form 5500
Creator: AMERICAN SUPERCONDUCTOR CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMSC 401(K) SAVINGS PLAN, AMERICAN SUPERCONDUCTOR CORPORATION

AMERICAN SUPERCONDUCTOR CORPORATIONEIN 04-2959321Plan #001PY 2023

114 EAST MAIN STREET - AYER, MA 01432978-842-3525

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$53.8M

+15.1% from 2022

Total participants

433

-6.1% from 2022

Average account balance

$151,252

+18.7% from 2022

Annual return

21.81%

+33.41 pp from 2022

Benchmarks

See 2,422 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,422 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$56.74M

Not enough data

1 years with asset history on file

Average account balance

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

$163K

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.

349

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.

82.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.21M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+19.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$275

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$135,215
GLOBAL RETIREMENT PARTNERS LLC3 years Service code 27 · EIN 47-1411118	Advisory (Plan)	$70,594
AMERICAN REALTY ADVISORS7 years Filed as: AMERICAN SUPERCONDUCTOR Service code 10 · EIN 04-2959321	Accounting	$18,000
THE ANGELL PENSION GROUP, INC.9+ years Filed as: THE ANGELL PENSION GROUP INC Service code 49 · EIN 04-2530412	Other Services	$9,558

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H3I

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$135K

$461 / participant

Contract admin$135K100.0%

% of EOY assets

0.251%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: AAFCPAS, INC.
Auditor EIN: 042571780
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$151,252

$99,201+52.5%

$96,544+56.7%

$74,473+103.1%

Participation rate

73.7%

80.7%-7.0pp

76.0%-2.3pp

70.7%+3.0pp

Annual return

21.81%

22.40%-0.6pp

25.88%-4.1pp

34.36%-12.5pp

Employer contribution / active EE

$2,307

$2,570-10.2%

$2,966-22.2%

$2,638-12.6%

Participant deferral / active EE

$7,700

$4,938+55.9%

$4,851+58.7%

$4,530+70.0%

Admin fee / account holder

$380

$225+68.9%

$8,254-95.4%

$347+9.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$135,215

GLOBAL RETIREMENT PARTNERS LLC3 years

Service code 27 · EIN 47-1411118

Advisory (Plan)

$70,594

AMERICAN REALTY ADVISORS7 years

Filed as: AMERICAN SUPERCONDUCTOR

Service code 10 · EIN 04-2959321

Accounting

$18,000

THE ANGELL PENSION GROUP, INC.9+ years

Filed as: THE ANGELL PENSION GROUP INC

Service code 49 · EIN 04-2530412

Other Services

$9,558

AMSC 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMSC 401(K) 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