Retirement plan

IWIS DRIVE SYSTEMS, LLC 401(K) PLAN

Name: IWIS DRIVE SYSTEMS, LLC - IWIS DRIVE SYSTEMS, LLC 401(K) PLAN (2023) Form 5500
Creator: IWIS DRIVE SYSTEMS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IWIS DRIVE SYSTEMS, LLC 401(K) PLAN, IWIS DRIVE SYSTEMS, LLC

IWIS DRIVE SYSTEMS, LLCEIN 20-1420347Plan #001PY 2023

3581 S 450 EAST - WHITESTOWN, IN 46075317-821-3539iwisusa.comLinkedIn51-200 employeesreligious institutions

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.9M

+32.0% from 2022

Total participants

+7.0% from 2022

Average account balance

$75,523

+24.2% from 2022

Annual return

18.64%

+39.09 pp from 2022

Benchmarks

See 14,453 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,453 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.13M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

94.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$497K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+13.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16275

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 codes2E2F2G2J2T3D

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.
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

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

$169K

$3376 / participant

Other / not subdivided$169K100.0%

% of EOY assets

4.383%

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

$75,523

$80,983-6.7%

$96,544-21.8%

$75,177+0.5%

Participation rate

80.0%

71.8%+8.2pp

76.0%+4.0pp

67.2%+12.8pp

Annual return

18.64%

27.05%-8.4pp

25.88%-7.2pp

160.75%-142.1pp

Employer contribution / active EE

$3,489

$2,282+52.9%

$2,966+17.6%

$2,671+30.6%

Participant deferral / active EE

$6,966

$3,929+77.3%

$4,851+43.6%

$4,126+68.8%

Admin fee / account holder

$3,310

$6,717-50.7%

$8,254-59.9%

$5,651-41.4%

IWIS DRIVE SYSTEMS, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IWIS DRIVE SYSTEMS, LLC 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