Retirement plan

SPECIALTY STEEL WORKS INCORPORATED 401(K) RETIREMENT SAVINGS PLAN

Name: SPECIALTY STEEL WORKS INCORPORATED - SPECIALTY STEEL WORKS INCORPORATED 401(K) RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: SPECIALTY STEEL WORKS INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPECIALTY STEEL WORKS INCORPORATED 401(K) RETIREMENT SAVINGS PLAN, SPECIALTY STEEL WORKS INCORPORATED

SPECIALTY STEEL WORKS INCORPORATEDEIN 26-4430641Plan #001PY 2023

1412 150TH STREET - HAMMOND, IN 46327219-853-6000specialtysteelworks.comLinkedIn501-1000 employeesmining & metals

Other plans on this EIN

1 filing

#002Retirement-$22.4M assets

Prospect flagsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$46.6M

+14.2% from 2022

Total participants

341

-6.3% from 2022

Average account balance

$142,949

+23.6% from 2022

Annual return

19.30%

+34.59 pp from 2022

Benchmarks

See 4,139 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,139 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$50.89M

Not enough data

1 years with asset history on file

Average account balance

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

$160K

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.

319

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.

91.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.10M

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

+16.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$124

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

1 years with F_SCH_H allocation on file

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC2 years Filed as: GLOBAL RETIREMENT PARTNERS, LLC Service code 27 · EIN 47-1411118	Advisory (Plan)	$28,398
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$25,720
LVBW LLP2 years Service code 10 · EIN 22-3736025	Accounting	$11,900

Plan features & details

Pension benefit codes2F2G2J2K2S2T2E3H3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$66K

$308 / participant

Recordkeeping$26K39.0%
Investment mgmt$28K43.0%
Other / not subdivided$12K18.0%

% of EOY assets

0.142%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: LVBW LLP
Auditor EIN: 223736025
Audit fees: $11,900
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$142,949

$76,050+88.0%

$96,544+48.1%

$71,457+100.0%

Participation rate

93.0%

74.4%+18.6pp

76.0%+17.0pp

67.9%+25.1pp

Annual return

19.30%

22.81%-3.5pp

25.84%-6.5pp

28.85%-9.6pp

Employer contribution / active EE

$4,074

$2,244+81.5%

$2,965+37.4%

$2,588+57.4%

Participant deferral / active EE

$6,843

$4,215+62.3%

$4,851+41.1%

$4,289+59.6%

Admin fee / account holder

$203

$2,707-92.5%

$8,252-97.5%

$1,587-87.2%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC2 years

Filed as: GLOBAL RETIREMENT PARTNERS, LLC

Service code 27 · EIN 47-1411118

Advisory (Plan)

$28,398

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$25,720

LVBW LLP2 years

Service code 10 · EIN 22-3736025

Accounting

$11,900

SPECIALTY STEEL WORKS INCORPORATED 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPECIALTY STEEL WORKS INCORPORATED 401(K) RETIREMENT 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