Retirement plan

FITCHBURG HOURLY 401(K) SAVINGS PLAN

Name: SIMONDS INTERNATIONAL CORPORATION - FITCHBURG HOURLY 401(K) SAVINGS PLAN (2015) Form 5500
Creator: SIMONDS INTERNATIONAL CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FITCHBURG HOURLY 401(K) SAVINGS PLAN, SIMONDS INTERNATIONAL CORPORATION

SIMONDS INTERNATIONAL CORPORATIONEIN 13-2759891Plan #003PY 2015

135 INTERVALE RD, PO BOX 500 - FITCHBURG, MA 014206519978-424-0168

Other plans on this EIN

1 filing

#001Retirement-$27.0M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4.2M

No prior year

Total participants

No prior year

Average account balance

$42,008

No prior year

Annual return

0.30%

No prior year

Benchmarks

See 13,685 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort13,685 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.10M

Not enough data

1 years with asset history on file

Average account balance

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

$84K

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.

154.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$68K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+15.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2503

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

Top 4 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND1+ years Service code 13 · EIN 06-1050034	Contract Administrator	$11,821
THE BOSTONIAN GROUP1+ years Service code 27 · EIN 04-2848081	Advisory (Plan)	$4,500
NEWBURG & COMPANY1+ years Service code 10 · EIN 04-2805993	Accounting	$4,000
PRUDENTIAL RETIREMENT INSURANCE AND1+ years Filed as: THE PRUDENTIAL INSURANCE COMPANY OF Service code 61	Finders' fees / placement fees; Other...	$0

Plan features & details

Pension benefit codes2E2G2J2F2T2S3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

$33K

$438 / participant

Other / not subdivided$33K100.0%

% of EOY assets

0.790%

all-in expense ratio

Categories reported

0 / 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: NEWBURG & COMPANY, LLP
Auditor EIN: 042805993
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,008

$56,197-25.2%

$67,652-37.9%

$59,633-29.6%

Participation rate

100.0%

71.5%+28.5pp

75.7%+24.3pp

68.7%+31.3pp

Annual return

0.30%

18508.10%-18507.8pp

6625.40%-6625.1pp

2041.45%-2041.1pp

Employer contribution / active EE

$1,615-100.0%

$2,266-100.0%

$2,203-100.0%

Participant deferral / active EE

$3,517

$2,844+23.7%

$3,560-1.2%

$3,192+10.2%

Admin fee / account holder

$332

$3,958-91.6%

$4,821-93.1%

$4,297-92.3%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND1+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$11,821

THE BOSTONIAN GROUP1+ years

Service code 27 · EIN 04-2848081

Advisory (Plan)

$4,500

NEWBURG & COMPANY1+ years

Service code 10 · EIN 04-2805993

Accounting

$4,000

PRUDENTIAL RETIREMENT INSURANCE AND1+ years

Filed as: THE PRUDENTIAL INSURANCE COMPANY OF

Service code 61

Finders' fees / placement fees; Other...

FITCHBURG HOURLY 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FITCHBURG HOURLY 401(K) 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