Retirement plan

BABINEC SHEET METAL WORKS EMPLOYEES' 401(K) PROFIT-SHARING PLAN

Name: JOS. BABINEC SHEET METAL WORKS, INC. - BABINEC SHEET METAL WORKS EMPLOYEES' 401(K) PROFIT-SHARING PLAN (2016) Form 5500
Creator: JOS. BABINEC SHEET METAL WORKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BABINEC SHEET METAL WORKS EMPLOYEES' 401(K) PROFIT-SHARING PLAN, JOS. BABINEC SHEET METAL WORKS, INC.

JOS. BABINEC SHEET METAL WORKS, INC.EIN 22-1627403Plan #001PY 2016

774 MARTIN STREET - RAHWAY, NJ 07065732-388-6600LinkedIn11-50 employeesconstruction

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1M

No prior year

Total participants

No prior year

Average account balance

$83,883

No prior year

Annual return

9.68%

No prior year

Benchmarks

See 35,835 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort35,835 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.14M

Not enough data

1 years with asset history on file

Average account balance

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

$285K

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.

10.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$48K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+18.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1977

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 codes2E2H2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$43K

$7209 / participant

Other / not subdivided$43K100.0%

% of EOY assets

4.297%

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

$83,883

$99,345-15.6%

$84,753-1.0%

$273,972-69.4%

Participation rate

0.0%

80.7%-80.7pp

76.6%-76.6pp

83.0%-83.0pp

Annual return

9.68%

22.93%-13.3pp

22.78%-13.1pp

41.46%-31.8pp

Employer contribution / active EE

$2,566

$4,214-39.1%

$3,574-28.2%

$4,869-47.3%

Participant deferral / active EE

$6,071

$4,270+42.2%

$3,712+63.5%

$5,287+14.8%

Admin fee / account holder

$3,604

$6,645-45.8%

$5,333-32.4%

$10,133-64.4%

BABINEC SHEET METAL WORKS EMPLOYEES' 401(K) PROFIT-SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BABINEC SHEET METAL WORKS EMPLOYEES' 401(K) 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