Retirement plan

DYNALEC CORPORATION PROFIT SHARING 401(K) PLAN

Name: DYNALEC CORPORATION - DYNALEC CORPORATION PROFIT SHARING 401(K) PLAN (2022) Form 5500
Creator: DYNALEC CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DYNALEC CORPORATION PROFIT SHARING 401(K) PLAN, DYNALEC CORPORATION

DYNALEC CORPORATIONEIN 16-0843235Plan #001PY 2022

87 WEST MAIN STREET - SODUS, NY 14551315-483-6923dynalec.comLinkedIn51-200 employeesdefense & space

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$20.7M

-26.2% from 2021

Total participants

115

-7.3% from 2021

Average account balance

$179,687

-20.5% from 2021

Annual return

-14.33%

-25.96 pp from 2021

Benchmarks

See 4,067 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,067 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$34.88M

Not enough data

1 years with asset history on file

Average account balance

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

$272K

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.

128

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.89M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+15.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$736

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 5 by compensation

Provider	Service type	Compensation
WEALTH MANAGEMENT SYSTEMS INC1 year Filed as: WEALTH ENHANCEMENT GROUP Service code 21 1040 PITTSFORD VICTOR ROAD · PITTSFORD, NY 14534	Bank Trustee	$46,414
PINNACLE FINANCIAL SERVICES, INC.8+ years Filed as: PINNACLE ADVISORY Service code 21	Bank Trustee	$27,627
COBBLESTONE CAPITAL ADVISORS8+ years Service code 21	Bank Trustee	$19,397
FLAHERTY SALMIN, LLP8+ years Service code 10 2300 BUFFALO ROAD, BLDG. 200 · ROCHESTER, NY 14624	Accounting	$13,000
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA Service code 15 · EIN 16-3689044	Recordkeeping	$10,600

Plan features & details

Pension benefit codes2E2H2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$123K

$1127 / participant

Investment mgmt$105K85.1%
Other / not subdivided$18K14.9%

% of EOY assets

0.595%

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: FLAHERTY SALMIN, LLP
Auditor EIN: 161451346
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$179,687

$65,453+174.5%

$86,691+107.3%

$66,930+168.5%

Participation rate

100.0%

75.5%+24.5pp

76.6%+23.4pp

69.8%+30.2pp

Annual return

-14.33%

-10.89%-3.4pp

35.94%-50.3pp

1.57%-15.9pp

Employer contribution / active EE

$9,755

$2,154+352.9%

$2,837+243.8%

$2,545+283.3%

Participant deferral / active EE

$4,601

$4,102+12.2%

$4,656-1.2%

$4,238+8.6%

Admin fee / account holder

$1,068

$642+66.4%

$7,492-85.7%

$593+80.0%

Provider

Service type

Compensation

WEALTH MANAGEMENT SYSTEMS INC1 year

Filed as: WEALTH ENHANCEMENT GROUP

Service code 21

1040 PITTSFORD VICTOR ROAD · PITTSFORD, NY 14534

Bank Trustee

$46,414

PINNACLE FINANCIAL SERVICES, INC.8+ years

Filed as: PINNACLE ADVISORY

Service code 21

Bank Trustee

$27,627

COBBLESTONE CAPITAL ADVISORS8+ years

Service code 21

Bank Trustee

$19,397

FLAHERTY SALMIN, LLP8+ years

Service code 10

2300 BUFFALO ROAD, BLDG. 200 · ROCHESTER, NY 14624

Accounting

$13,000

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA

Service code 15 · EIN 16-3689044

Recordkeeping

$10,600

DYNALEC CORPORATION PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DYNALEC CORPORATION 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