Retirement plan

FAIR-RITE PRODUCTS CORP. 401(K) PLAN

Name: FAIR-RITE PRODUCTS CORP. - FAIR-RITE PRODUCTS CORP. 401(K) PLAN (2020) 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 2020

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

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$10.7M

+8.4% from 2019

Total participants

116

-4.9% from 2019

Average account balance

$98,399

+15.4% from 2019

Annual return

11.06%

-7.08 pp from 2019

Benchmarks

See 14,879 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,879 peers

Snapshot2020

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 3 by compensation

Provider	Service type	Compensation
GOULDIN & MCCARTHY LLC3 years Service code 27 180 MOUNT AIRY RD STE 203 · BASKING RIDGE, NJ 07920	Advisory (Plan)	$22,748
NUGENT ALISON1 year Filed as: NUGENT & HAEUSSLER PC Service code 99 101 BRACKEN ROAD · MONTGOMERY, NY 12549	Other Fees	$12,785
JPMORGAN INVEST HOLDINGS LLC4 years Service code 64 · EIN 13-2624428	Recordkeeping Fees	$285

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3B

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$36K

$377 / participant

Contract admin$36K100.0%

% of EOY assets

0.334%

all-in expense ratio

Categories reported

1 / 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: NUGENT & HAEUSSLER, P.C.
Auditor EIN: 141567370
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$98,399

$78,423+25.5%

$95,964+2.5%

$79,856+23.2%

Participation rate

92.6%

73.5%+19.1pp

77.1%+15.5pp

69.6%+23.0pp

Annual return

11.06%

19.37%-8.3pp

91.64%-80.6pp

31.71%-20.7pp

Employer contribution / active EE

$1,658

$1,945-14.8%

$2,541-34.7%

$2,471-32.9%

Participant deferral / active EE

$5,314

$3,440+54.5%

$4,167+27.5%

$3,741+42.1%

Admin fee / account holder

$329

$5,622-94.2%

$6,797-95.2%

$5,306-93.8%

Provider

Service type

Compensation

GOULDIN & MCCARTHY LLC3 years

Service code 27

180 MOUNT AIRY RD STE 203 · BASKING RIDGE, NJ 07920

Advisory (Plan)

$22,748

NUGENT ALISON1 year

Filed as: NUGENT & HAEUSSLER PC

Service code 99

101 BRACKEN ROAD · MONTGOMERY, NY 12549

Other Fees

$12,785

JPMORGAN INVEST HOLDINGS LLC4 years

Service code 64 · EIN 13-2624428

Recordkeeping Fees

$285

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