Retirement plan

PENNFAB, INC. 401(K) SAFE HARBOR PROFIT SHARING PLAN

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

PENNFAB, INC.EIN 23-2273568Plan #001PY 2020

20 STEEL ROAD SOUTH - MORRISVILLE, PA 19067215-245-1577pennfab.comLinkedIn51-200 employeesmechanical or industrial engineering

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.6M

+8.5% from 2019

Total participants

+16.2% from 2019

Average account balance

$41,858

+0.2% from 2019

Annual return

10.41%

-14.06 pp from 2019

Benchmarks

See 14,881 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,881 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.09M

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

115.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$301K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+21.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$982

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

1 tripped

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

$172K

$4766 / participant

Other / not subdivided$172K100.0%

% of EOY assets

10.511%

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

$41,858

$78,428-46.6%

$95,960-56.4%

$79,852-47.6%

Participation rate

88.9%

73.5%+15.4pp

77.1%+11.8pp

69.6%+19.3pp

Annual return

10.41%

19.37%-9.0pp

91.63%-81.2pp

31.72%-21.3pp

Employer contribution / active EE

$1,603

$1,945-17.6%

$2,541-36.9%

$2,471-35.1%

Participant deferral / active EE

$1,787

$3,440-48.0%

$4,167-57.1%

$3,740-52.2%

Admin fee / account holder

$4,400

$5,622-21.7%

$6,797-35.3%

$5,306-17.1%

PENNFAB, INC. 401(K) SAFE HARBOR PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PENNFAB, INC. 401(K) SAFE HARBOR 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