Retirement plan

PALMER FOUNDRY RETIREMENT AND SAVINGS PLAN FOR UNION REPRESENTED EMPLOYEES

Name: BLACK BAY VENTURES VI, LLC - PALMER FOUNDRY RETIREMENT AND SAVINGS PLAN FOR UNION REPRESENTED EMPLOYEES (2015) Form 5500
Creator: BLACK BAY VENTURES VI, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PALMER FOUNDRY RETIREMENT AND SAVINGS PLAN FOR UNION REPRESENTED EMPLOYEES, BLACK BAY VENTURES VI, LLC

BLACK BAY VENTURES VI, LLCdba PALMER FOUNDRYEIN 27-0590304Plan #003PY 2015

22 MOUNT DUMPLIN ROAD - PALMER, MA 010691128413-283-2976

Other plans on this EIN

1 filing

#002Retirement-$709K assets

Prospect flagsHigh feesLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

No prior year

Total participants

No prior year

Average account balance

$21,652

No prior year

Annual return

-2.12%

No prior year

Benchmarks

See 13,685 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort13,685 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.16M

Not enough data

1 years with asset history on file

Average account balance

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

$23K

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.

105.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$239K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+9.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2844

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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$202K

$3954 / participant

Other / not subdivided$202K100.0%

% of EOY assets

13.899%

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

$21,652

$56,197-61.5%

$67,652-68.0%

$59,633-63.7%

Participation rate

100.0%

71.5%+28.5pp

75.7%+24.3pp

68.7%+31.3pp

Annual return

-2.12%

18508.10%-18510.2pp

6625.40%-6627.5pp

2041.45%-2043.6pp

Employer contribution / active EE

$1,224

$1,615-24.2%

$2,266-46.0%

$2,203-44.4%

Participant deferral / active EE

$848

$2,844-70.2%

$3,560-76.2%

$3,192-73.4%

Admin fee / account holder

$3,009

$3,958-24.0%

$4,821-37.6%

$4,297-30.0%

PALMER FOUNDRY RETIREMENT AND SAVINGS PLAN FOR UNION REPRESENTED EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PALMER FOUNDRY RETIREMENT AND SAVINGS PLAN FOR UNION REPRESENTED EMPLOYEES

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