Retirement plan

ERIE FORGE UNION 401(K) SAVINGS PLAN

Name: ERIE FORGE & STEEL, INC. - ERIE FORGE UNION 401(K) SAVINGS PLAN (2021) Form 5500
Creator: ERIE FORGE & STEEL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ERIE FORGE UNION 401(K) SAVINGS PLAN, ERIE FORGE & STEEL, INC.

ERIE FORGE & STEEL, INC.EIN 25-1620703Plan #002PY 2021

1341 WEST 16TH STREET - ERIE, PA 16502412-390-2705LinkedIn51-200 employeesmanagement consulting

Other plans on this EIN

1 filing

#001Retirement-$3.7M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.1M

-2.8% from 2020

Total participants

-6.2% from 2020

Average account balance

$50,640

+3.5% from 2020

Annual return

12.11%

+1.01 pp from 2020

Benchmarks

See 14,567 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,567 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.22M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$174K

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

+11.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4204

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 codes2E3D2G2J2F2T

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

$686K

$13722 / participant

Other / not subdivided$686K100.0%

% of EOY assets

22.210%

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

$50,640

$86,298-41.3%

$111,308-54.5%

$85,847-41.0%

Participation rate

100.0%

73.3%+26.7pp

77.3%+22.7pp

69.3%+30.7pp

Annual return

12.11%

19.99%-7.9pp

54.67%-42.6pp

318.61%-306.5pp

Employer contribution / active EE

$1,987

$2,044-2.8%

$2,732-27.3%

$2,565-22.5%

Participant deferral / active EE

$1,995

$3,641-45.2%

$4,487-55.5%

$3,952-49.5%

Admin fee / account holder

$11,247

$8,189+37.3%

$7,965+41.2%

$6,261+79.6%

ERIE FORGE UNION 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ERIE FORGE UNION 401(K) SAVINGS 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