Retirement plan

PRECIPART 401(K) PROFIT SHARING PLAN

Name: PRECIPART CORPORATION - PRECIPART 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: PRECIPART CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRECIPART 401(K) PROFIT SHARING PLAN, PRECIPART CORPORATION

PRECIPART CORPORATIONEIN 11-2501170Plan #001PY 2020

ALC BUILDING, 80 FINN COURT - FARMINGDALE, NY 11735516-694-5900

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$28.8M

+12.3% from 2019

Total participants

316

+17.5% from 2019

Average account balance

$96,236

-1.2% from 2019

Annual return

11.21%

+1.81 pp from 2019

Benchmarks

See 2,346 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,346 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$35.20M

Not enough data

1 years with asset history on file

Average account balance

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

$104K

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.

337

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.

99.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.04M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+9.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$302

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
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$35,116
LPL FINANCIAL1 year Filed as: LPL FINANCIAL RP COMP Service code 26 · EIN 04-3046611	Advisory (Participants)	$12,104
COOPER SAVAS LLC1 year Filed as: COOPER WILLIAMS LLC Service code 10 · EIN 27-2627149	Accounting	$8,500
ORENDA RETIREMENT, LLC1 year Filed as: ORENDA RETIREMENT Service code 13 · EIN 36-4877979	Contract Administrator	$6,725
ORENDA RETIREMENT, LLC1 year Filed as: ORENDA RETIREMENT LLC Service code 13	Contract Administrator	$2,768

Plan features & details

Pension benefit codes2A2E3D3H

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.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$149K

$542 / participant

Investment mgmt$12K8.1%
Contract admin$128K86.2%
Other / not subdivided$9K5.7%

% of EOY assets

0.518%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: COOPER SAVAS LLC
Auditor EIN: 275169784
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$96,236

$79,519+21.0%

$95,956+0.3%

$73,412+31.1%

Participation rate

93.8%

81.2%+12.6pp

77.1%+16.7pp

72.2%+21.6pp

Annual return

11.21%

19.20%-8.0pp

91.63%-80.4pp

59.30%-48.1pp

Employer contribution / active EE

$4,673

$2,048+128.2%

$2,541+83.9%

$2,234+109.2%

Participant deferral / active EE

$4,865

$4,138+17.6%

$4,167+16.8%

$3,806+27.8%

Admin fee / account holder

$498

$184+170.4%

$6,797-92.7%

$158+215.6%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$35,116

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL RP COMP

Service code 26 · EIN 04-3046611

Advisory (Participants)

$12,104

COOPER SAVAS LLC1 year

Filed as: COOPER WILLIAMS LLC

Service code 10 · EIN 27-2627149

Accounting

$8,500

ORENDA RETIREMENT, LLC1 year

Filed as: ORENDA RETIREMENT

Service code 13 · EIN 36-4877979

Contract Administrator

$6,725

ORENDA RETIREMENT, LLC1 year

Filed as: ORENDA RETIREMENT LLC

Service code 13

Contract Administrator

$2,768

PRECIPART 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRECIPART 401(K) PROFIT SHARING 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