Retirement plan

SPRIMAG, INC. 401(K) RETIREMENT PLAN

Name: SPRIMAG, INC. - SPRIMAG, INC. 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: SPRIMAG, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPRIMAG, INC. 401(K) RETIREMENT PLAN, SPRIMAG, INC.

SPRIMAG, INC.EIN 31-1564340Plan #001PY 2023

9965 CINCINNATI DAYTON ROAD - WEST CHESTER, OH 45069513-779-5730

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$3.2M

+15.5% from 2022

Total participants

-8.3% from 2022

Average account balance

$318,984

+15.5% from 2022

Annual return

17.66%

+36.54 pp from 2022

Benchmarks

See 22,643 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,643 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.31M

Not enough data

1 years with asset history on file

Average account balance

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

$431K

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$141K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+31.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1250

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 codes2F2J3D

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).
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.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$171K

$17082 / participant

Other / not subdivided$171K100.0%

% of EOY assets

5.355%

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

$318,984

$110,212+189.4%

$96,534+230.4%

$139,466+128.7%

Participation rate

90.0%

78.1%+11.9pp

76.0%+14.0pp

80.3%+9.7pp

Annual return

17.66%

26.42%-8.8pp

25.88%-8.2pp

373.66%-356.0pp

Employer contribution / active EE

$3,620-100.0%

$2,965-100.0%

$4,754-100.0%

Participant deferral / active EE

$11,173

$5,547+101.4%

$4,851+130.3%

$6,712+66.5%

Admin fee / account holder

$17,082

$11,599+47.3%

$8,253+107.0%

$11,409+49.7%

SPRIMAG, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPRIMAG, INC. 401(K) RETIREMENT 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