Retirement plan

VICTORY IRON WORKS, INC. EMPLOYEES PROFIT SHARING PLAN

Name: VICTORY IRON WORKS, INC - VICTORY IRON WORKS, INC. EMPLOYEES PROFIT SHARING PLAN (2023) Form 5500
Creator: VICTORY IRON WORKS, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VICTORY IRON WORKS, INC. EMPLOYEES PROFIT SHARING PLAN, VICTORY IRON WORKS, INC

VICTORY IRON WORKS, INCEIN 22-1508310Plan #001PY 2023

780 MOUNTAIN AVENUE - WYCKOFF, NJ 07481201-485-7181

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$841K

-10.8% from 2022

Total participants

-14.3% from 2022

Average account balance

$140,226

-10.8% from 2022

Annual return

6.96%

+18.22 pp from 2022

Benchmarks

See 51,572 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,572 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$359K

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$353

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

+1.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$99911

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 codes2J2E2G

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$181K

$36179 / participant

Other / not subdivided$181K100.0%

% of EOY assets

21.500%

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

$140,226

$106,247+32.0%

$96,515+45.3%

$139,466+0.5%

Participation rate

100.0%

77.8%+22.2pp

74.3%+25.7pp

80.3%+19.7pp

Annual return

6.96%

38.47%-31.5pp

35.73%-28.8pp

373.66%-366.7pp

Employer contribution / active EE

$2,246

$4,106-45.3%

$3,740-39.9%

$4,754-52.8%

Participant deferral / active EE

$353

$5,456-93.5%

$4,880-92.8%

$6,712-94.7%

Admin fee / account holder

$30,149

$7,885+282.4%

$6,735+347.6%

$11,409+164.3%

VICTORY IRON WORKS, INC. EMPLOYEES PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VICTORY IRON WORKS, INC. EMPLOYEES PROFIT SHARING 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