Retirement plan

UNITED STEEL WORKERS OF AMERICA - STANDARD STEEL, LLC 401(K) PLAN

Name: STANDARD STEEL, LLC - UNITED STEEL WORKERS OF AMERICA - STANDARD STEEL, LLC 401(K) PLAN (2023) Form 5500
Creator: STANDARD STEEL, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITED STEEL WORKERS OF AMERICA - STANDARD STEEL, LLC 401(K) PLAN, STANDARD STEEL, LLC

STANDARD STEEL, LLCEIN 32-0020058Plan #006PY 2023

500 NORTH WALNUT STREET - BURHAM, PA 17009717-248-4911standardsteel.com.uaLinkedIn11-50 employeesmining & metals

Other plans on this EIN

1 filing

#001Retirement-$21.2M assets

Prospect flagsLow returnsLow employer contribution

How to read this page

Total assets (EOY)

$40.4M

+16.0% from 2022

Total participants

579

+0.2% from 2022

Average account balance

$73,372

+15.5% from 2022

Annual return

14.42%

+28.55 pp from 2022

Benchmarks

See 2,423 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,423 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$44.59M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

554

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.

95.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.57M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$157

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

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$56,989
STRATEGIC ADVISORS, INC.7 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$17,435

Plan features & details

Pension benefit codes2E2F2G2J2S2T3B3D

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$74K

$147 / participant

Recordkeeping$57K76.2%
Investment mgmt$17K23.4%
Contract admin$3000.4%

% of EOY assets

0.184%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,372

$99,168-26.0%

$96,534-24.0%

$74,460-1.5%

Participation rate

94.5%

80.7%+13.8pp

76.0%+18.5pp

70.7%+23.7pp

Annual return

14.42%

22.40%-8.0pp

25.88%-11.5pp

34.38%-20.0pp

Employer contribution / active EE

$2,570-100.0%

$2,965-100.0%

$2,638-100.0%

Participant deferral / active EE

$4,884

$4,936-1.1%

$4,851+0.7%

$4,530+7.8%

Admin fee / account holder

$135

$225-39.9%

$8,253-98.4%

$348-61.2%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$56,989

STRATEGIC ADVISORS, INC.7 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$17,435

UNITED STEEL WORKERS OF AMERICA - STANDARD STEEL, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITED STEEL WORKERS OF AMERICA - STANDARD STEEL, LLC 401(K) 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