Retirement plan

S&B MACHINE WORKS INC. 401(K) RETIREMENT SAVINGS PLAN

Name: S & B MACHINE WORKS, INC. - S&B MACHINE WORKS INC. 401(K) RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: S & B MACHINE WORKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, S&B MACHINE WORKS INC. 401(K) RETIREMENT SAVINGS PLAN, S & B MACHINE WORKS, INC.

S & B MACHINE WORKS, INC.EIN 11-2664683Plan #001PY 2024

111 NEW YORK AVENUE - WESTBURY, NY 11590516-997-2666sbmachineworks.comLinkedIn11-50 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.8M

+20.6% from 2023

Total participants

0.0% from 2023

Average account balance

$174,041

+20.6% from 2023

Annual return

13.58%

-7.33 pp from 2023

Benchmarks

See 23,033 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort23,033 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.78M

Not enough data

1 years with asset history on file

Average account balance

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

$174K

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.

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.

106.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$180K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+13.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2120

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$34K

$2261 / participant

Other / not subdivided$34K100.0%

% of EOY assets

1.218%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$174,041

$117,904+47.6%

$102,457+69.9%

$145,978+19.2%

Participation rate

93.3%

78.6%+14.7pp

76.5%+16.8pp

80.3%+13.0pp

Annual return

13.58%

31.80%-18.2pp

29.41%-15.8pp

550.52%-536.9pp

Employer contribution / active EE

$2,104

$3,613-41.8%

$3,022-30.4%

$4,662-54.9%

Participant deferral / active EE

$9,898

$5,733+72.6%

$5,054+95.8%

$6,690+48.0%

Admin fee / account holder

$2,120

$13,329-84.1%

$9,451-77.6%

$13,400-84.2%

S&B MACHINE WORKS INC. 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

S&B MACHINE WORKS INC. 401(K) RETIREMENT 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