Retirement plan

VALTEC, LLC 401(K) PLAN

Name: VALTEC, LLC - VALTEC, LLC 401(K) PLAN (2021) Form 5500
Creator: VALTEC, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VALTEC, LLC 401(K) PLAN, VALTEC, LLC

VALTEC, LLCEIN 20-1882679Plan #002PY 2021

565 S. CEDAR STREET - IMLAY CITY, MI 48444810-724-5048valtecplastics.comLinkedIn51-200 employeesautomotive

Prospect flagsLow participationLow assets / participantLow employer contributionLow participant contributionLow fidelity bondFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$1.6M

+23.5% from 2020

Total participants

123

-6.8% from 2020

Average account balance

$29,910

+18.9% from 2020

Annual return

11.83%

-4.08 pp from 2020

Benchmarks

See 1,879 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,879 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.48M

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

46.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$158K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+10.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3189

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

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Service providers

Top 8 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT WEST LIFE & ANNUITY INS CO Service code 52 · EIN 84-0467907	Indirect Investment Fees	$6,072
MIDWEST PENSION & PROFIT SHARING SE5 years Filed as: THE MIDWEST PENSION GROUP Service code 13 · EIN 38-2781642	Contract Administrator	$1,141
AMERICAN FUNDS5 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BARBARA GILL5 years Service code 53 924 CENTENNIAL WAY · LANSING, MI 48917	Insurance Commissions	$0
FRANKLIN TEMPLETON5 years Service code 52 · EIN 13-3151768	Indirect Investment Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MML INVESTORS SERVICES INC Service code 53 · EIN 04-2746212	Insurance Commissions	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.5 years Filed as: MMLIC Service code 52	Indirect Investment Fees	$0
T ROWE PRICE RPS INC5 years Filed as: T ROWE PRICE Service code 52	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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

7 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$6K

$55 / participant

Contract admin$6K100.0%

% of EOY assets

0.376%

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: UHY LLP
Auditor EIN: 200694403
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,910

$79,438-62.3%

$106,554-71.9%

$79,389-62.3%

Participation rate

37.8%

74.2%-36.3pp

76.1%-38.3pp

70.7%-32.9pp

Annual return

11.83%

18.27%-6.4pp

26.80%-15.0pp

116.89%-105.1pp

Employer contribution / active EE

$77

$2,235-96.6%

$2,819-97.3%

$2,428-96.8%

Participant deferral / active EE

$1,438

$3,824-62.4%

$4,398-67.3%

$4,046-64.5%

Admin fee / account holder

$112

$523-78.5%

$7,408-98.5%

$626-82.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT WEST LIFE & ANNUITY INS CO

Service code 52 · EIN 84-0467907

Indirect Investment Fees

$6,072

MIDWEST PENSION & PROFIT SHARING SE5 years

Filed as: THE MIDWEST PENSION GROUP

Service code 13 · EIN 38-2781642

Contract Administrator

$1,141

AMERICAN FUNDS5 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BARBARA GILL5 years

Service code 53

924 CENTENNIAL WAY · LANSING, MI 48917

Insurance Commissions

FRANKLIN TEMPLETON5 years

Service code 52 · EIN 13-3151768

Indirect Investment Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MML INVESTORS SERVICES INC

Service code 53 · EIN 04-2746212

Insurance Commissions

MASSACHUSETTS MUTUAL LIFE INS. CO.5 years

Filed as: MMLIC

Service code 52

Indirect Investment Fees

T ROWE PRICE RPS INC5 years

Filed as: T ROWE PRICE

Service code 52

Indirect Investment Fees

VALTEC, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VALTEC, 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