Retirement plan

WORTHINGTON ASSEMBLY, INC. 401(K) PROFIT SHARING PLAN

Name: WORTHINGTON ASSEMBLY, INC. - WORTHINGTON ASSEMBLY, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: WORTHINGTON ASSEMBLY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WORTHINGTON ASSEMBLY, INC. 401(K) PROFIT SHARING PLAN, WORTHINGTON ASSEMBLY, INC.

WORTHINGTON ASSEMBLY, INC.EIN 26-1968285Plan #001PY 2022

14 INDUSTRIAL DRIVE EAST - SOUTH DEERFIELD, MA 01373413-397-8260worthingtonassembly.comLinkedIn11-50 employeeselectrical/electronic manufacturing

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$1.6M

-3.9% from 2021

Total participants

+4.8% from 2021

Average account balance

$38,923

-11.0% from 2021

Annual return

-20.08%

-40.73 pp from 2021

Benchmarks

See 14,494 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,494 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.91M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

108.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$364K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+19.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$276

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 codes2E2F2G2J2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

$22K

$579 / participant

Other / not subdivided$22K100.0%

% of EOY assets

1.378%

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

$38,923

$71,878-45.8%

$86,698-55.1%

$68,486-43.2%

Participation rate

92.1%

72.2%+19.9pp

76.6%+15.5pp

67.9%+24.2pp

Annual return

-20.08%

3.53%-23.6pp

35.95%-56.0pp

-7.85%-12.2pp

Employer contribution / active EE

$2,355

$2,173+8.3%

$2,837-17.0%

$2,597-9.3%

Participant deferral / active EE

$5,244

$3,779+38.8%

$4,656+12.6%

$4,028+30.2%

Admin fee / account holder

$536

$6,113-91.2%

$7,493-92.8%

$5,404-90.1%

WORTHINGTON ASSEMBLY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WORTHINGTON ASSEMBLY, INC. 401(K) 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