Retirement plan

IMA NORTH AMERICA, INC. 401(K) RETIREMENT PLAN

Name: IMA NORTH AMERICA, INC. - IMA NORTH AMERICA, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: IMA NORTH AMERICA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IMA NORTH AMERICA, INC. 401(K) RETIREMENT PLAN, IMA NORTH AMERICA, INC.

IMA NORTH AMERICA, INC.EIN 06-1062686Plan #001PY 2022

7 NEW LANCASTER ROAD - LEOMINSTER, MA 01453978-227-1127LinkedIn1-10 employeesmachinery

Other plans on this EIN

1 filing

#002Retirement-$2.8M assets

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$25.8M

-16.5% from 2021

Total participants

180

+7.1% from 2021

Average account balance

$164,022

-14.4% from 2021

Annual return

-15.34%

-42.18 pp from 2021

Benchmarks

See 4,067 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,067 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$29.69M

Not enough data

1 years with asset history on file

Average account balance

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

$186K

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.

160

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.

93.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.35M

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

+13.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$542

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 5 by compensation

Provider	Service type	Compensation
MMA SECURITIES LLC2 years Service code 27 PO BOX 9497 · NEW YORK, NY 10087	Advisory (Plan)	$44,000
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$21,111
COMPASS3602 years Service code 13 118 PORTSMOUTH AVE STE A2 · STRATHAM, NH 03885	Contract Administrator	$16,526
GRAY, GRAY & GRAY1 year Filed as: GRAY GRAY & GRAY, LLP Service code 10 150 ROYALL STREET SUITE 102 · CANTON, MA 02021	Accounting	$12,000
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · NREENWOOD VILLAGE, CO 80111	Investment Management	$3,651

Plan features & details

Pension benefit codes2A2E2G2J2K3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
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

$96K

$610 / participant

Contract admin$96K100.0%

% of EOY assets

0.374%

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: GRAY, GRAY, & GRAY LLP
Auditor EIN: 042088368
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$164,022

$65,453+150.6%

$86,691+89.2%

$66,930+145.1%

Participation rate

85.4%

75.5%+10.0pp

76.6%+8.9pp

69.8%+15.6pp

Annual return

-15.34%

-10.89%-4.5pp

35.94%-51.3pp

1.57%-16.9pp

Employer contribution / active EE

$5,690

$2,154+164.2%

$2,837+100.6%

$2,545+123.6%

Participant deferral / active EE

$7,750

$4,102+89.0%

$4,656+66.5%

$4,238+82.9%

Admin fee / account holder

$613

$642-4.4%

$7,492-91.8%

$593+3.4%

Provider

Service type

Compensation

MMA SECURITIES LLC2 years

Service code 27

PO BOX 9497 · NEW YORK, NY 10087

Advisory (Plan)

$44,000

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$21,111

COMPASS3602 years

Service code 13

118 PORTSMOUTH AVE STE A2 · STRATHAM, NH 03885

Contract Administrator

$16,526

GRAY, GRAY & GRAY1 year

Filed as: GRAY GRAY & GRAY, LLP

Service code 10

150 ROYALL STREET SUITE 102 · CANTON, MA 02021

Accounting

$12,000

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · NREENWOOD VILLAGE, CO 80111

Investment Management

$3,651

IMA NORTH AMERICA, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IMA NORTH AMERICA, INC. 401(K) 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