Retirement plan

PRIME MATERIALS ASSOCIATES INC 401(K) PROFIT SHARING PLAN & TRUST

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

PRIME MATERIALS ASSOCIATES INCEIN 04-3107787Plan #002PY 2023

72 COMMERCE DR - UXBRIDGE, MA 01569508-278-0099LinkedIn1-10 employeestelecommunications

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$661K

+33.4% from 2022

Total participants

-8.3% from 2022

Average account balance

$60,082

+45.6% from 2022

Annual return

19.02%

+37.06 pp from 2022

Benchmarks

See 41,776 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,776 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$862K

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$125K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+12.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1221

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$43K

$5332 / participant

Other / not subdivided$43K100.0%

% of EOY assets

6.455%

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

$60,082

$96,691-37.9%

$86,656-30.7%

$139,487-56.9%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

19.02%

106.87%-87.8pp

593.09%-574.1pp

373.84%-354.8pp

Employer contribution / active EE

$3,219

$3,267-1.5%

$3,025+6.4%

$4,755-32.3%

Participant deferral / active EE

$10,762

$4,838+122.5%

$4,439+142.4%

$6,713+60.3%

Admin fee / account holder

$3,878

$6,414-39.5%

$5,619-31.0%

$11,407-66.0%

PRIME MATERIALS ASSOCIATES INC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRIME MATERIALS ASSOCIATES INC 401(K) PROFIT SHARING 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