Retirement plan

ERIE MATERIALS, INC. PROFIT SHARING & 401(K) PLAN

Name: ERIE MATERIALS, INC. - ERIE MATERIALS, INC. PROFIT SHARING & 401(K) PLAN (2023) Form 5500
Creator: ERIE MATERIALS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ERIE MATERIALS, INC. PROFIT SHARING & 401(K) PLAN, ERIE MATERIALS, INC.

ERIE MATERIALS, INC.EIN 15-0528388Plan #001PY 2023

P.O. BOX 476 - SYRACUSE, NY 13211315-455-5292eriematerials.comLinkedIn201-500 employeesbuilding materials

Prospect flagsHigh cash

How to read this page

Total assets (EOY)

$81.9M

+19.5% from 2022

Total participants

443

+2.8% from 2022

Average account balance

$186,453

+16.0% from 2022

Annual return

16.71%

+33.31 pp from 2022

Benchmarks

See 1,360 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,360 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$87.72M

Not enough data

1 years with asset history on file

Average account balance

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

$195K

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.

449

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.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.41M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+12.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$-29

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
WILMINGTON TRUST5 years Filed as: WILMINGTON TRUST FEE COLLECTIONS Service code 16 · EIN 16-1486454	Consulting	$69,764
FIRLEY, MORAN, FREER & EASSA,CPA PC6 years Filed as: FIRLEY MORAN FREER AND EASSA, CPA, Service code 10 · EIN 16-1148763	Accounting	$15,000
STRATEGIC ADVISORS, INC.3 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$8,602
FIDELITY INVESTMENTS INSTITUTIONAL6 years Service code 37 · EIN 04-2647786	Loan Processing	-$93,272

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
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

1 tripped

OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.

Expense breakdown

Schedule H Part II

Admin total

$94

$0 / participant

Investment mgmt$9K9151.1%

% of EOY assets

0.000%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FIRLEY, MORAN, FREER & EASSA,CPA,PC
Auditor EIN: 161148763
Audit fees: $15,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$186,453

$91,372+104.1%

$130,045+43.4%

$74,460+150.4%

Participation rate

98.9%

77.8%+21.1pp

78.5%+20.4pp

70.7%+28.2pp

Annual return

16.71%

23.21%-6.5pp

-137.30%+154.0pp

34.38%-17.7pp

Employer contribution / active EE

$6,522

$2,563+154.4%

$4,321+50.9%

$2,638+147.2%

Participant deferral / active EE

$6,667

$4,721+41.2%

$5,820+14.6%

$4,530+47.2%

Admin fee / account holder

$283-99.9%

$10,600-100.0%

$348-99.9%

Provider

Service type

Compensation

WILMINGTON TRUST5 years

Filed as: WILMINGTON TRUST FEE COLLECTIONS

Service code 16 · EIN 16-1486454

Consulting

$69,764

FIRLEY, MORAN, FREER & EASSA,CPA PC6 years

Filed as: FIRLEY MORAN FREER AND EASSA, CPA,

Service code 10 · EIN 16-1148763

Accounting

$15,000

STRATEGIC ADVISORS, INC.3 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$8,602

FIDELITY INVESTMENTS INSTITUTIONAL6 years

Service code 37 · EIN 04-2647786

Loan Processing

-$93,272

ERIE MATERIALS, INC. PROFIT SHARING & 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ERIE MATERIALS, INC. PROFIT SHARING & 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