Retirement plan

FAIR-RITE PRODUCTS CORP. 401(K) PLAN

Name: FAIR-RITE PRODUCTS CORP. - FAIR-RITE PRODUCTS CORP. 401(K) PLAN (2024) Form 5500
Creator: FAIR-RITE PRODUCTS CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAIR-RITE PRODUCTS CORP. 401(K) PLAN, FAIR-RITE PRODUCTS CORP.

FAIR-RITE PRODUCTS CORP.EIN 14-1389596Plan #003PY 2024

ONE COMMERCIAL ROW PO BOX 288 - WALLKILL, NY 12589845-895-2055fair-rite.comLinkedIn51-200 employeeselectrical/electronic manufacturing

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$13.5M

+15.3% from 2023

Total participants

141

-6.6% from 2023

Average account balance

$96,289

+16.9% from 2023

Annual return

10.28%

-3.37 pp from 2023

Benchmarks

See 4,099 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,099 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.48M

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

140

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.

99.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$950K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$528

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 4 by compensation

Provider	Service type	Compensation
ONEDIGITAL INVESTMENT ADVISORS LLC2 years Filed as: ONE DIGITAL TOPCO LLC DBA RESOURCES Service code 27 11101 SWITZER RD · OVERLAND PARK, KS 66210	Advisory (Plan)	$31,135
EISNERAMPER LLP1 year Service code 10 PO BOX 360635 · PITTSBURGH, PA 15251	Accounting	$26,250
NUGENT ALISON5 years Filed as: NUGENT & HAEUSSLER PC Service code 99 101 BRACKEN RD · MONTGOMERY, NY 12549	Other Fees	$16,270
JPMORGAN INVEST HOLDINGS LLC8 years Service code 64 · EIN 13-2624428	Recordkeeping Fees	$280

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3B3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$74K

$637 / participant

Recordkeeping$2800.4%
Investment mgmt$31K42.1%
Other / not subdivided$43K57.5%

% of EOY assets

0.548%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EISNER AMPER LLP
Auditor EIN: 871363769
Audit fees: $26,250
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$96,289

$79,223+21.5%

$102,460-6.0%

$74,478+29.3%

Participation rate

99.1%

74.8%+24.4pp

76.5%+22.6pp

67.2%+31.9pp

Annual return

10.28%

54.98%-44.7pp

29.47%-19.2pp

1370.56%-1360.3pp

Employer contribution / active EE

$1,956

$2,363-17.2%

$3,025-35.3%

$2,626-25.5%

Participant deferral / active EE

$6,233

$4,417+41.1%

$5,056+23.3%

$4,350+43.3%

Admin fee / account holder

$528

$2,003-73.6%

$9,460-94.4%

$1,946-72.9%

Provider

Service type

Compensation

ONEDIGITAL INVESTMENT ADVISORS LLC2 years

Filed as: ONE DIGITAL TOPCO LLC DBA RESOURCES

Service code 27

11101 SWITZER RD · OVERLAND PARK, KS 66210

Advisory (Plan)

$31,135

EISNERAMPER LLP1 year

Service code 10

PO BOX 360635 · PITTSBURGH, PA 15251

Accounting

$26,250

NUGENT ALISON5 years

Filed as: NUGENT & HAEUSSLER PC

Service code 99

101 BRACKEN RD · MONTGOMERY, NY 12549

Other Fees

$16,270

JPMORGAN INVEST HOLDINGS LLC8 years

Service code 64 · EIN 13-2624428

Recordkeeping Fees

$280

FAIR-RITE PRODUCTS CORP. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAIR-RITE PRODUCTS CORP. 401(K) 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