Retirement plan

PENN ENGINEERING 401(K) PLAN

Name: PENN ENGINEERING & MANUFACTURING - PENN ENGINEERING 401(K) PLAN (2023) Form 5500
Creator: PENN ENGINEERING & MANUFACTURING
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PENN ENGINEERING 401(K) PLAN, PENN ENGINEERING & MANUFACTURING

PENN ENGINEERING & MANUFACTURINGEIN 23-0951065Plan #002PY 2023

5190 OLD EASTON ROAD - DANBORO, PA 189161000215-766-8853penntoolgroup.comLinkedIn1001-5000 employeesmachinery

Other plans on this EIN

1 filing

#001Retirement-$21.2M assets

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$151.2M

+24.5% from 2022

Total participants

1,262

+25.6% from 2022

Average account balance

$123,723

-1.5% from 2022

Annual return

23.37%

+39.09 pp from 2022

Benchmarks

See 2,422 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,422 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$164.06M

Not enough data

1 years with asset history on file

Average account balance

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

$124K

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.

1,320

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.

96.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$10.19M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+13.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$292

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY9+ years Service code 64 · EIN 71-0294708	Recordkeeping Fees	$212,860
RESOURCES INVESTMENT ADVISORS LLC4 years Filed as: RESOURCES INV. ADV. FCT STONE ST Service code 99 · EIN 11-1000111	Other Fees	$90,048
WITHUMSMITH+BROWN, PC4 years Filed as: WITHUM SMITH BROWN Service code 99 · EIN 22-2027092	Other Fees	$22,074

Plan features & details

Pension benefit codes2E2F2G2J2K3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$325K

$356 / participant

Investment mgmt$114K35.0%
Contract admin$209K64.4%
Other / not subdivided$2K0.5%

% of EOY assets

0.215%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WITHUM SMITH & BROWN PC
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$123,723

$99,201+24.7%

$96,544+28.2%

$74,473+66.1%

Participation rate

95.6%

80.7%+14.9pp

76.0%+19.6pp

70.7%+24.9pp

Annual return

23.37%

22.40%+1.0pp

25.88%-2.5pp

34.36%-11.0pp

Employer contribution / active EE

$4,503

$2,570+75.2%

$2,966+51.8%

$2,638+70.7%

Participant deferral / active EE

$6,071

$4,938+22.9%

$4,851+25.1%

$4,530+34.0%

Admin fee / account holder

$266

$225+18.3%

$8,254-96.8%

$347-23.4%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY9+ years

Service code 64 · EIN 71-0294708

Recordkeeping Fees

$212,860

RESOURCES INVESTMENT ADVISORS LLC4 years

Filed as: RESOURCES INV. ADV. FCT STONE ST

Service code 99 · EIN 11-1000111

Other Fees

$90,048

WITHUMSMITH+BROWN, PC4 years

Filed as: WITHUM SMITH BROWN

Service code 99 · EIN 22-2027092

Other Fees

$22,074

PENN ENGINEERING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PENN ENGINEERING 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