Retirement plan

NORWALT DESIGN, INC. PROFIT SHARING PLAN & TRUST

Name: NORWALT DESIGN, INC. - NORWALT DESIGN, INC. PROFIT SHARING PLAN & TRUST (2023) Form 5500
Creator: NORWALT DESIGN, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORWALT DESIGN, INC. PROFIT SHARING PLAN & TRUST, NORWALT DESIGN, INC.

NORWALT DESIGN, INC.EIN 22-1937801Plan #001PY 2023

961 ROUTE 10 EAST, BLDG 2-A - RANDOLPH, NJ 07869973-927-3200

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$14M

+13.1% from 2022

Total participants

+4.7% from 2022

Average account balance

$241,890

+11.2% from 2022

Annual return

14.71%

+29.14 pp from 2022

Benchmarks

See 14,456 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,456 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.45M

Not enough data

1 years with asset history on file

Average account balance

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

$230K

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.

116.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$753K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+17.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$18949

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

2 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.)

Expense breakdown

Schedule H Part II

Admin total

$824K

$13970 / participant

Other / not subdivided$824K100.0%

% of EOY assets

5.875%

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

$241,890

$80,992+198.7%

$96,534+150.6%

$75,173+221.8%

Participation rate

84.7%

71.8%+13.0pp

76.0%+8.8pp

67.2%+17.5pp

Annual return

14.71%

27.05%-12.3pp

25.88%-11.2pp

160.72%-146.0pp

Employer contribution / active EE

$8,776

$2,283+284.5%

$2,965+196.0%

$2,671+228.6%

Participant deferral / active EE

$1,720

$3,929-56.2%

$4,851-64.5%

$4,126-58.3%

Admin fee / account holder

$14,211

$6,717+111.6%

$8,253+72.2%

$5,651+151.5%

NORWALT DESIGN, INC. PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORWALT DESIGN, INC. PROFIT SHARING PLAN & TRUST

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