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 (2016) 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 DBA PALMER FOUNDRYEIN 27-0590304Plan #003PY 2016

22 MT. DUMPLIN ROAD - PALMER, MA 010691128413-283-2976

Other plans on this EIN

1 filing

#002Retirement-$832K assets

Prospect flagsHigh feesLow assets / participantLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1.6M

+11.2% from 2015

Total participants

+7.5% from 2015

Average account balance

$22,410

+3.5% from 2015

Annual return

7.42%

+9.54 pp from 2015

Benchmarks

See 15,087 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort15,087 peers

Snapshot2016

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

4 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.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$63K

$1333 / participant

Other / not subdivided$63K100.0%

% of EOY assets

3.883%

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

$22,410

$60,349-62.9%

$74,184-69.8%

$62,881-64.4%

Participation rate

100.0%

72.7%+27.3pp

76.6%+23.4pp

69.3%+30.7pp

Annual return

7.42%

21.38%-14.0pp

17.74%-10.3pp

20.14%-12.7pp

Employer contribution / active EE

$1,228

$1,680-26.9%

$2,370-48.2%

$2,281-46.1%

Participant deferral / active EE

$951

$2,856-66.7%

$3,550-73.2%

$3,203-70.3%

Admin fee / account holder

$870

$4,261-79.6%

$5,586-84.4%

$4,296-79.7%

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