Retirement plan

SPECTRUM 401(K)PLAN

Name: SPECTRUM MACHINERY, INC. - SPECTRUM 401(K)PLAN (2016) Form 5500
Creator: SPECTRUM MACHINERY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPECTRUM 401(K)PLAN, SPECTRUM MACHINERY, INC.

SPECTRUM MACHINERY, INC.EIN 11-3758509Plan #001PY 2016

51 INDUSTRIAL DRIVE - NORTH SMITHFIELD, RI 02896401-724-6055spectrummachinery.comLinkedIn1-10 employeesmachinery

Prospect flagsHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$1.6M

No prior year

Total participants

No prior year

Average account balance

$314,353

No prior year

Annual return

9.12%

No prior year

Benchmarks

See 21,241 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,241 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.60M

Not enough data

1 years with asset history on file

Average account balance

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

$319K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$107K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+11.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12839

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 codes2E2F2G2J3D

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.
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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

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

$314,353

$88,707+254.4%

$74,185+323.7%

$273,970+14.7%

Participation rate

100.0%

79.4%+20.6pp

76.6%+23.4pp

83.0%+17.0pp

Annual return

9.12%

11.94%-2.8pp

17.74%-8.6pp

41.46%-32.3pp

Employer contribution / active EE

$2,903

$3,159-8.1%

$2,370+22.5%

$4,869-40.4%

Participant deferral / active EE

$20,380

$4,212+383.9%

$3,550+474.1%

$5,287+285.5%

Admin fee / account holder

$8,717-100.0%

$5,586-100.0%

$10,132-100.0%

SPECTRUM 401(K)PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

SPECTRUM 401(K)PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion