Retirement plan

COMMERCIAL SEWING, INC.EMPLOYEE SAVINGS AND RETIREMENT PLAN

Name: COMMERCIAL SEWING, INC. - COMMERCIAL SEWING, INC.EMPLOYEE SAVINGS AND RETIREMENT PLAN (2024) Form 5500
Creator: COMMERCIAL SEWING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COMMERCIAL SEWING, INC.EMPLOYEE SAVINGS AND RETIREMENT PLAN, COMMERCIAL SEWING, INC.

COMMERCIAL SEWING, INC.EIN 06-0863890Plan #002PY 2024

65 GRANT ST - TORRINGTON, CT 06790860-482-5509commercialsewing.comLinkedIn51-200 employeesconsumer goods

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$10.8M

+13.0% from 2023

Total participants

202

-5.2% from 2023

Average account balance

$59,163

+9.9% from 2023

Annual return

13.35%

-1.78 pp from 2023

Benchmarks

See 939 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort939 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.77M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

182

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.

86.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$805K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$343

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
LPL FINANCIAL2 years Filed as: LPL FINANCIAL CORPORATION Service code 27 · EIN 04-3046611	Advisory (Plan)	$30,573
TRANSAMERICA RETIREMENT SOLUTIONS10+ years Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781	Recordkeeping	$29,628
COMMERCIAL SEWING, INC1 year Filed as: COMMERCIAL SEWING INC Service code 35 · EIN 06-0863890	Employee (plan sponsor)	$14,375
JIM HALLINAN PENSION CONSULTING LLC2 years Service code 15 · EIN 51-0523358	Recordkeeping	$1,890

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$62K

$433 / participant

Contract admin$62K100.0%

% of EOY assets

0.580%

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: CHARLAND,MARCIANO AND CO, CPAS, LLP
Auditor EIN: 050430561
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$59,163

$62,177-4.8%

$81,370-27.3%

$74,478-20.6%

Participation rate

86.1%

64.1%+22.1pp

69.5%+16.6pp

67.2%+18.9pp

Annual return

13.35%

16.62%-3.3pp

24.85%-11.5pp

1370.56%-1357.2pp

Employer contribution / active EE

$1,296

$1,881-31.1%

$2,464-47.4%

$2,626-50.7%

Participant deferral / active EE

$4,294

$3,219+33.4%

$3,885+10.5%

$4,350-1.3%

Admin fee / account holder

$343

$1,927-82.2%

$5,749-94.0%

$1,946-82.4%

Provider

Service type

Compensation

LPL FINANCIAL2 years

Filed as: LPL FINANCIAL CORPORATION

Service code 27 · EIN 04-3046611

Advisory (Plan)

$30,573

TRANSAMERICA RETIREMENT SOLUTIONS10+ years

Filed as: TRANSAMERICA LIFE INSURANCE COMPANY

Service code 15 · EIN 39-0989781

Recordkeeping

$29,628

COMMERCIAL SEWING, INC1 year

Filed as: COMMERCIAL SEWING INC

Service code 35 · EIN 06-0863890

Employee (plan sponsor)

$14,375

JIM HALLINAN PENSION CONSULTING LLC2 years

Service code 15 · EIN 51-0523358

Recordkeeping

$1,890

COMMERCIAL SEWING, INC.EMPLOYEE SAVINGS AND RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COMMERCIAL SEWING, INC.EMPLOYEE SAVINGS AND RETIREMENT 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