Retirement plan

THE 401K SAVINGS PLAN

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

PENCO CORPORATIONEIN 06-0403810Plan #004PY 2023

229 BUCKINGHAM ST - HARTFORD, CT 061061607860-278-2345

Other plans on this EIN

1 filing

#003Retirement-$98.3M assets

Prospect flagsHigh cashLow participation

How to read this page

Total assets (EOY)

$31.1M

+28.1% from 2022

Total participants

316

+82.7% from 2022

Average account balance

$188,220

+25.8% from 2022

Annual return

25.82%

+46.57 pp from 2022

Benchmarks

See 2,423 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,423 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$35.54M

Not enough data

1 years with asset history on file

Average account balance

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

$202K

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.

176

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.

50.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.36M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+24.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$40

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 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL1 year Service code 37 · EIN 04-2647786	Loan Processing	$775

Plan features & details

Pension benefit codes2G2J3D3H

Plan features

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.

Expense breakdown

Schedule H Part II

Admin total

$5K

$18 / participant

Recordkeeping$77514.2%
Investment mgmt$5K85.8%

% of EOY assets

0.018%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MARCUM LLP
Auditor EIN: 111986323
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$188,220

$99,168+89.8%

$96,576+94.9%

$74,440+152.8%

Participation rate

49.7%

80.7%-31.0pp

76.0%-26.3pp

70.7%-21.1pp

Annual return

25.82%

22.40%+3.4pp

25.87%0pp

34.37%-8.5pp

Employer contribution / active EE

$2,570-100.0%

$2,965-100.0%

$2,638-100.0%

Participant deferral / active EE

$4,459

$4,936-9.7%

$4,851-8.1%

$4,529-1.5%

Admin fee / account holder

$33

$225-85.3%

$8,253-99.6%

$348-90.5%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Service code 37 · EIN 04-2647786

Loan Processing

$775

THE 401K SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE 401K 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