Retirement plan

SATCO PRODUCTS, INC. 401(K) PLAN

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

SATCO PRODUCTS, INC.EIN 11-2070002Plan #003PY 2022

110 HEARTLAND BLVD. - BRENTWOOD, NY 11717631-243-2022satco.comLinkedIn51-200 employeeselectrical/electronic manufacturing

Other plans on this EIN

2 filings

#004Retirement-$19.4M assets #002Retirement-$12.4M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$22.3M

-3.7% from 2021

Total participants

444

+0.2% from 2021

Average account balance

$50,556

-4.8% from 2021

Annual return

-6.85%

-35.91 pp from 2021

Benchmarks

See 2,389 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,389 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$26.83M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

518

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.

98.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.85M

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

+10.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$209

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
JOHN HANCOCK LIFE INSURANCE COMPANY7+ years Filed as: JOHN HANCOCK NEW YORK Service code 15 · EIN 13-3646501	Recordkeeping	$2,376

Plan features & details

Pension benefit codes2E2F2G2J3H3J

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3J
U.S.-based Puerto Rico dual-qualified plan
U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$113K

$388 / participant

Other / not subdivided$113K100.0%

% of EOY assets

0.505%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KMR LLP
Auditor EIN: 273959222
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,556

$72,303-30.1%

$86,698-41.7%

$64,824-22.0%

Participation rate

99.3%

80.4%+18.9pp

76.6%+22.7pp

71.5%+27.8pp

Annual return

-6.85%

392.77%-399.6pp

35.96%-42.8pp

32.84%-39.7pp

Employer contribution / active EE

$2,343

$2,393-2.1%

$2,837-17.4%

$2,507-6.5%

Participant deferral / active EE

$3,111

$4,660-33.2%

$4,656-33.2%

$4,311-27.8%

Admin fee / account holder

$255

$174+46.7%

$7,492-96.6%

$188+35.8%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY7+ years

Filed as: JOHN HANCOCK NEW YORK

Service code 15 · EIN 13-3646501

Recordkeeping

$2,376

SATCO PRODUCTS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SATCO PRODUCTS, INC. 401(K) 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