Retirement plan

HARBOR STEEL, INC. 401(K) PLAN

Name: HARBOR STEEL, INC. - HARBOR STEEL, INC. 401(K) PLAN (2020) Form 5500
Creator: HARBOR STEEL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARBOR STEEL, INC. 401(K) PLAN, HARBOR STEEL, INC.

HARBOR STEEL, INC.EIN 23-1711467Plan #002PY 2020

1980 BENJAMIN FRANKLIN PKWY - NEW CASTLE, PA 161018706724-658-7748harborsteelinc.comLinkedIn11-50 employees

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1.2M

+23.6% from 2019

Total participants

-15.4% from 2019

Average account balance

$133,948

+37.4% from 2019

Annual return

21.57%

-9.93 pp from 2019

Benchmarks

See 21,451 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,451 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.54M

Not enough data

1 years with asset history on file

Average account balance

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

$256K

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.

66.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$16K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+16.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1798

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 codes2E2G2J2T3D

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.
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

OpportunityLow employer contribution
Employer 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.)
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

$13K

$1874 / participant

Other / not subdivided$13K100.0%

% of EOY assets

1.088%

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

$133,948

$112,112+19.5%

$95,956+39.6%

$158,950-15.7%

Participation rate

71.4%

79.0%-7.6pp

77.1%-5.6pp

82.0%-10.5pp

Annual return

21.57%

171.15%-149.6pp

91.63%-70.1pp

302.91%-281.3pp

Employer contribution / active EE

$494

$3,199-84.5%

$2,541-80.5%

$4,762-89.6%

Participant deferral / active EE

$2,859

$4,784-40.2%

$4,167-31.4%

$5,983-52.2%

Admin fee / account holder

$1,458

$10,134-85.6%

$6,797-78.6%

$11,248-87.0%

HARBOR STEEL, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARBOR STEEL, INC. 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