Retirement plan

VELMEX, INC. 401(K) PROFIT SHARING PLAN

Name: VELMEX, INC. - VELMEX, INC. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: VELMEX, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VELMEX, INC. 401(K) PROFIT SHARING PLAN, VELMEX, INC.

VELMEX, INC.EIN 16-0924244Plan #001PY 2019

7550 ROUTE 5 AND 20 - BLOOMFIELD, NY 14469585-657-6151velmex.comLinkedIn11-50 employeesindustrial automation

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$13.9M

+23.1% from 2018

Total participants

0.0% from 2018

Average account balance

$435,137

+23.1% from 2018

Annual return

22.37%

+27.12 pp from 2018

Benchmarks

See 14,957 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,957 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.18M

Not enough data

1 years with asset history on file

Average account balance

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

$339K

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.

115.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$429K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+11.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11189

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 codes2E2F2G2J

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$499K

$16082 / participant

Other / not subdivided$499K100.0%

% of EOY assets

3.580%

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

$435,137

$72,492+500.3%

$87,104+399.6%

$72,975+496.3%

Participation rate

100.0%

72.8%+27.2pp

76.9%+23.1pp

69.5%+30.5pp

Annual return

22.37%

24.46%-2.1pp

28.19%-5.8pp

81.01%-58.6pp

Employer contribution / active EE

$12,552

$1,894+562.8%

$2,521+397.8%

$2,440+414.4%

Participant deferral / active EE

$6,262

$3,270+91.5%

$4,048+54.7%

$3,608+73.6%

Admin fee / account holder

$15,580

$5,055+208.2%

$7,491+108.0%

$5,124+204.1%

VELMEX, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VELMEX, INC. 401(K) PROFIT SHARING 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