Retirement plan

STRIPPIT INC. 401(K) PLAN FOR SALARIED EMPLOYEES

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

STRIPPIT, INC.EIN 13-3372065Plan #001PY 2022

12975 CLARENCE CENTER RD - AKRON, NY 140011371716-542-4511strippit.comLinkedIn201-500 employeesmachinery

Other plans on this EIN

3 filings

#019Retirement-$8.9M assets #002Retirement-$7.0M assets #020Retirement-$425K assets

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$20.4M

-14.9% from 2021

Total participants

179

+1.1% from 2021

Average account balance

$115,376

-16.8% from 2021

Annual return

-14.87%

-30.80 pp from 2021

Benchmarks

See 14,491 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,491 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.04M

Not enough data

1 years with asset history on file

Average account balance

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

$93K

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.

194

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.

97.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$672K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+17.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

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
THE VANGUARD GROUP, INC.3 years Service code 15 · EIN 23-1945930	Recordkeeping	$19,461

Plan features & details

Pension benefit codes2E2F2G2J2T

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.

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$19K

$256 / participant

Other / not subdivided$19K100.0%

% of EOY assets

0.095%

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: DAVIE KAPLAN CPA PC
Auditor EIN: 161182991
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$115,376

$71,873+60.5%

$86,698+33.1%

$68,490+68.5%

Participation rate

97.4%

72.2%+25.1pp

76.6%+20.8pp

67.9%+29.5pp

Annual return

-14.87%

3.54%-18.4pp

35.96%-50.8pp

-7.85%-7.0pp

Employer contribution / active EE

$2,419

$2,173+11.3%

$2,837-14.7%

$2,597-6.9%

Participant deferral / active EE

$6,789

$3,779+79.6%

$4,656+45.8%

$4,028+68.6%

Admin fee / account holder

$110

$6,110-98.2%

$7,492-98.5%

$5,403-98.0%

Provider

Service type

Compensation

THE VANGUARD GROUP, INC.3 years

Service code 15 · EIN 23-1945930

Recordkeeping

$19,461

STRIPPIT INC. 401(K) PLAN FOR SALARIED EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STRIPPIT INC. 401(K) PLAN FOR SALARIED EMPLOYEES

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