Retirement plan

ACCESS MAGNETICS LLC EMPLOYEE SAVINGS PLAN

Name: ACCESS MAGNETICS LLC - ACCESS MAGNETICS LLC EMPLOYEE SAVINGS PLAN (2022) Form 5500
Creator: ACCESS MAGNETICS LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ACCESS MAGNETICS LLC EMPLOYEE SAVINGS PLAN, ACCESS MAGNETICS LLC

ACCESS MAGNETICS LLCEIN 30-0778239Plan #001PY 2022

1603 WOODSIDE AVE - BAY CITY, MI 48708989-391-4072energyefficientdogdoors.comLinkedIn1-10 employeesbuilding materials

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$115K

+22.7% from 2021

Total participants

+12.5% from 2021

Average account balance

$19,163

+22.7% from 2021

Annual return

-22.65%

-53.52 pp from 2021

Benchmarks

See 22,369 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,369 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$292K

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$51K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+25.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2F2G2J2T3D

Plan features

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

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

$19,163

$100,805-81.0%

$86,698-77.9%

$134,532-85.8%

Participation rate

62.5%

79.0%-16.5pp

76.6%-14.1pp

81.2%-18.7pp

Annual return

-22.65%

29.09%-51.7pp

35.95%-58.6pp

418.27%-440.9pp

Employer contribution / active EE

$1,719

$3,490-50.7%

$2,837-39.4%

$4,741-63.7%

Participant deferral / active EE

$3,596

$5,339-32.7%

$4,656-22.8%

$6,401-43.8%

Admin fee / account holder

$10,925-100.0%

$7,493-100.0%

$11,429-100.0%

ACCESS MAGNETICS LLC EMPLOYEE SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

ACCESS MAGNETICS LLC EMPLOYEE SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion