Retirement plan

RAPID MACHINING, LLC 401(K) PLAN

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

RAPID MACHINING, LLCEIN 20-8064103Plan #001PY 2023

W4666 STATE ROAD 85 - DURAND, WI 54736715-672-4263rapidmachiningllc.comLinkedIn11-50 employees

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$654K

+38.1% from 2022

Total participants

-13.3% from 2022

Average account balance

$46,726

+47.9% from 2022

Annual return

21.17%

+41.57 pp from 2022

Benchmarks

See 22,651 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,651 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.09M

Not enough data

1 years with asset history on file

Average account balance

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

$91K

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.

60.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$94K

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

+20.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$949

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 codes2E2F2G2J3D2T

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$1K

$49 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.179%

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

$46,726

$110,307-57.6%

$96,576-51.6%

$139,456-66.5%

Participation rate

50.0%

78.1%-28.1pp

76.0%-26.0pp

80.3%-30.3pp

Annual return

21.17%

26.40%-5.2pp

25.87%-4.7pp

373.45%-352.3pp

Employer contribution / active EE

$1,147

$3,619-68.3%

$2,965-61.3%

$4,753-75.9%

Participant deferral / active EE

$2,234

$5,547-59.7%

$4,851-54.0%

$6,711-66.7%

Admin fee / account holder

$84

$11,597-99.3%

$8,253-99.0%

$11,407-99.3%

RAPID MACHINING, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RAPID MACHINING, 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