Retirement plan

AREA TOOL & MANUFACTURING, INC. PROFIT SHARING PLAN & TRUST

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

AREA TOOL & MANUFACTURING, INC.EIN 25-1292857Plan #001PY 2023

181 BALDWIN STREET PARK ROAD - MEADVILLE, PA 16335814-724-3166areatool.comLinkedIn11-50 employeesmechanical or industrial engineering

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3.4M

+6.6% from 2022

Total participants

+6.7% from 2022

Average account balance

$213,279

-0.0% from 2022

Annual return

6.29%

+16.52 pp from 2022

Benchmarks

See 22,651 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,651 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.74M

Not enough data

1 years with asset history on file

Average account balance

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

$234K

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.

160.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$95K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+13.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$77443

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

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.

Expense breakdown

Schedule H Part II

Admin total

$73K

$6069 / participant

Other / not subdivided$73K100.0%

% of EOY assets

2.134%

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

$213,279

$110,307+93.4%

$96,576+120.8%

$139,456+52.9%

Participation rate

100.0%

78.1%+21.9pp

76.0%+24.0pp

80.3%+19.7pp

Annual return

6.29%

26.40%-20.1pp

25.87%-19.6pp

373.45%-367.2pp

Employer contribution / active EE

$1,667

$3,619-54.0%

$2,965-43.8%

$4,753-64.9%

Participant deferral / active EE

$4,731

$5,547-14.7%

$4,851-2.5%

$6,711-29.5%

Admin fee / account holder

$4,552

$11,597-60.8%

$8,253-44.8%

$11,407-60.1%

AREA TOOL & MANUFACTURING, INC. PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AREA TOOL & MANUFACTURING, 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