Retirement plan

STRIPPIT, INC. 401(K) PLAN FOR HOURLY EMPLOYEES

Name: STRIPPIT, INC. - STRIPPIT, INC. 401(K) PLAN FOR HOURLY EMPLOYEES (2021) Form 5500
Creator: STRIPPIT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STRIPPIT, INC. 401(K) PLAN FOR HOURLY EMPLOYEES, STRIPPIT, INC.

STRIPPIT, INC.EIN 13-3372065Plan #020PY 2021

12975 CLARENCE CENTER RD - AKRON, NY 14001716-542-4511strippit.comLinkedIn201-500 employeesmachinery

Other plans on this EIN

3 filings

#001Retirement-$24.0M assets #019Retirement-$11.4M assets #002Retirement-$8.8M assets

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$381K

+91.9% from 2020

Total participants

-13.3% from 2020

Average account balance

$9,782

+121.4% from 2020

Annual return

19.26%

+19.26 pp from 2020

Benchmarks

See 14,566 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,566 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$767K

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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

$158K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+8.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2194

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 codes2E2F2G2T3D3H

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.
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$34K

$1030 / participant

Other / not subdivided$34K100.0%

% of EOY assets

8.906%

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

$9,782

$86,288-88.7%

$111,306-91.2%

$85,851-88.6%

Participation rate

100.0%

73.3%+26.7pp

77.3%+22.7pp

69.3%+30.7pp

Annual return

19.26%

19.99%-0.7pp

54.67%-35.4pp

318.63%-299.4pp

Employer contribution / active EE

$2,773

$2,044+35.7%

$2,732+1.5%

$2,565+8.1%

Participant deferral / active EE

$2,619

$3,641-28.1%

$4,488-41.6%

$3,952-33.7%

Admin fee / account holder

$871

$8,189-89.4%

$7,966-89.1%

$6,261-86.1%

STRIPPIT, INC. 401(K) PLAN FOR HOURLY EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STRIPPIT, INC. 401(K) PLAN FOR HOURLY 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