Retirement plan

SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF WAGMAN METAL PRODUCTS, INC.

Name: WAGMAN METAL PRODUCTS, INC. - SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF WAGMAN METAL PRODUCTS, INC. (2022) Form 5500
Creator: WAGMAN METAL PRODUCTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF WAGMAN METAL PRODUCTS, INC., WAGMAN METAL PRODUCTS, INC.

WAGMAN METAL PRODUCTS, INC.EIN 23-1687247Plan #002PY 2022

400 SOUTH ALBERMARLE STREET - YORK, PA 17403717-854-2120wagmanmetal.comLinkedIn11-50 employeesconstruction

Prospect flagsLow returnsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$1.3M

-8.2% from 2021

Total participants

+6.7% from 2021

Average account balance

$18,949

-13.5% from 2021

Annual return

-21.15%

-35.22 pp from 2021

Benchmarks

See 14,491 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,491 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.23M

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

104.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$263K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+19.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1566

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 codes2F2G2S2T3D

Plan features

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$51K

$922 / participant

Other / not subdivided$51K100.0%

% of EOY assets

3.822%

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

$18,949

$71,873-73.6%

$86,698-78.1%

$68,490-72.3%

Participation rate

81.8%

72.2%+9.6pp

76.6%+5.2pp

67.9%+13.9pp

Annual return

-21.15%

3.54%-24.7pp

35.96%-57.1pp

-7.85%-13.3pp

Employer contribution / active EE

$1,501

$2,173-31.0%

$2,837-47.1%

$2,597-42.2%

Participant deferral / active EE

$2,795

$3,779-26.1%

$4,656-40.0%

$4,028-30.6%

Admin fee / account holder

$724

$6,110-88.1%

$7,492-90.3%

$5,403-86.6%

SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF WAGMAN METAL PRODUCTS, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SAFE-HARBOR 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF WAGMAN METAL PRODUCTS, INC.

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