Retirement plan

PRECISION GRINDING & MANUFACTURING CORP. PROFIT SHARING 401(K) RETIREMENT PLAN

Name: PRECISION GRINDING & MANUFACTURING CORP. - PRECISION GRINDING & MANUFACTURING CORP. PROFIT SHARING 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: PRECISION GRINDING & MANUFACTURING CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRECISION GRINDING & MANUFACTURING CORP. PROFIT SHARING 401(K) RETIREMENT PLAN, PRECISION GRINDING & MANUFACTURING CORP.

PRECISION GRINDING & MANUFACTURING CORP.EIN 16-0924683Plan #002PY 2024

1305 EMERSON STREET - ROCHESTER, NY 14606585-458-4300LinkedIn11-50 employeesmining & metals

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed November 9, 2005

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$13.2M

+10.4% from 2023

Total participants

177

+4.1% from 2023

Average account balance

$77,843

+2.6% from 2023

Annual return

11.51%

-4.30 pp from 2023

Benchmarks

See 4,106 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,106 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$14.85M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

153

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.

96.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$595K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+14.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$383

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

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE10+ years Filed as: FIRST GREAT-WEST LIFE & ANNUITY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$35,557
RBC WEALTH MANAGEMENT10+ years Filed as: RBC CAPITAL MARKETS, LLC Service code 55 · EIN 41-1416330	Other Commissions	$20,655
FLAHERTY SALMIN, LLP1 year Filed as: SALMIN, CELONA, WEHRLE & FLAHERTY Service code 10 · EIN 16-1451346	Accounting	$9,200
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$5,791
BPAS1 year Filed as: BPAS, LLC Service code 13	Contract Administrator	$4,583
BPAS1 year Filed as: BPAS LLC Service code 13 6 RHOADS DR STE 7 · UTICA, NY 13502	Contract Administrator	$2,898
LIFETIME BENEFIT SOLUTIONS10+ years Service code 13 · EIN 16-1171765 333 BUTTERNUT DRIVE · SYRACUSE, NY 13214	Contract Administrator	$472

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

$54K

$399 / participant

Recordkeeping$49K91.7%
Contract admin$4K8.3%

% of EOY assets

0.407%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

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

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$77,843

$79,171-1.7%

$102,423-24.0%

$74,495+4.5%

Participation rate

94.0%

74.8%+19.2pp

76.5%+17.5pp

67.2%+26.8pp

Annual return

11.51%

54.93%-43.4pp

29.32%-17.8pp

1364.94%-1353.4pp

Employer contribution / active EE

$2,362-100.0%

$3,023-100.0%

$2,623-100.0%

Participant deferral / active EE

$3,982

$4,415-9.8%

$5,053-21.2%

$4,346-8.4%

Admin fee / account holder

$317

$2,001-84.2%

$9,451-96.7%

$1,942-83.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE10+ years

Filed as: FIRST GREAT-WEST LIFE & ANNUITY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$35,557

RBC WEALTH MANAGEMENT10+ years

Filed as: RBC CAPITAL MARKETS, LLC

Service code 55 · EIN 41-1416330

Other Commissions

$20,655

FLAHERTY SALMIN, LLP1 year

Filed as: SALMIN, CELONA, WEHRLE & FLAHERTY

Service code 10 · EIN 16-1451346

Accounting

$9,200

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$5,791

BPAS1 year

Filed as: BPAS, LLC

Service code 13

Contract Administrator

$4,583

BPAS1 year

Filed as: BPAS LLC

Service code 13

6 RHOADS DR STE 7 · UTICA, NY 13502

Contract Administrator

$2,898

LIFETIME BENEFIT SOLUTIONS10+ years

Service code 13 · EIN 16-1171765

333 BUTTERNUT DRIVE · SYRACUSE, NY 13214

Contract Administrator

$472

PRECISION GRINDING & MANUFACTURING CORP. PROFIT SHARING 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRECISION GRINDING & MANUFACTURING CORP. PROFIT SHARING 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

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