Retirement plan

CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN

Name: CURRIER PLASTICS, INC. - CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN (2023) Form 5500
Creator: CURRIER PLASTICS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN, CURRIER PLASTICS, INC.

CURRIER PLASTICS, INC.EIN 16-1190840Plan #002PY 2023

101 COLUMBUS STREET - AUBURN, NY 13021315-255-1779

Prospect flagsHigh feesLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$7M

+25.0% from 2022

Total participants

271

-5.9% from 2022

Average account balance

$26,860

+24.5% from 2022

Annual return

15.43%

+33.34 pp from 2022

Benchmarks

See 1,939 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,939 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.83M

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

291

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.

93.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$866K

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

+12.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$348

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
TRANSAMERICA RETIREMENT SOLUTIONS6+ years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$78,324
TRONCONI SEGARRA & ASSOCIATES1 year Filed as: TRONCONI, SEGARRA & ASSOCIATES, LLP Service code 10 · EIN 04-3728817	Accounting	$15,199
PINNACLE FINANCIAL SERVICES, INC.6+ years Service code 15 · EIN 59-2438373	Recordkeeping	$10,444
MESIROW FINANCIAL INVESTMENT MANAGE6+ years Filed as: MESIROW FINANCIAL, INC. Service code 27 · EIN 36-3194849	Advisory (Plan)	$1,213
LPL FINANCIAL6+ years Service code 22 · EIN 95-2834236	Insurance Broker	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D2T2X

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.
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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$105K

$565 / participant

Contract admin$90K85.5%
Other / not subdivided$15K14.5%

% of EOY assets

1.512%

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: BONADIO & CO, LLP
Auditor EIN: 161131146
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,860

$71,534-62.5%

$98,462-72.7%

$71,529-62.4%

Participation rate

93.5%

72.7%+20.9pp

75.2%+18.4pp

67.9%+25.6pp

Annual return

15.43%

32.44%-17.0pp

21.17%-5.7pp

28.97%-13.5pp

Employer contribution / active EE

$1,169

$2,399-51.3%

$3,049-61.6%

$2,590-54.8%

Participant deferral / active EE

$3,372

$4,109-17.9%

$4,738-28.8%

$4,291-21.4%

Admin fee / account holder

$406

$1,677-75.8%

$8,875-95.4%

$1,588-74.4%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS6+ years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$78,324

TRONCONI SEGARRA & ASSOCIATES1 year

Filed as: TRONCONI, SEGARRA & ASSOCIATES, LLP

Service code 10 · EIN 04-3728817

Accounting

$15,199

PINNACLE FINANCIAL SERVICES, INC.6+ years

Service code 15 · EIN 59-2438373

Recordkeeping

$10,444

MESIROW FINANCIAL INVESTMENT MANAGE6+ years

Filed as: MESIROW FINANCIAL, INC.

Service code 27 · EIN 36-3194849

Advisory (Plan)

$1,213

LPL FINANCIAL6+ years

Service code 22 · EIN 95-2834236

Insurance Broker

CAYUGA COUNTY CHAMBER OF COMMERCE INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CAYUGA COUNTY CHAMBER OF COMMERCE INC. 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