Retirement plan

INNOVATIVE TOOL, INC. 401(K) & PROFIT SHARING PLAN

Name: INNOVATIVE TOOL, INC. - INNOVATIVE TOOL, INC. 401(K) & PROFIT SHARING PLAN (2016) Form 5500
Creator: INNOVATIVE TOOL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOVATIVE TOOL, INC. 401(K) & PROFIT SHARING PLAN, INNOVATIVE TOOL, INC.

INNOVATIVE TOOL, INC.EIN 32-0096618Plan #001PY 2016

28195 KEHRIG - CHESTERFIELD, MI 48047586-415-9600innovativetoolinc.comLinkedIn11-50 employeeselectrical/electronic manufacturing

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$886K

+21.2% from 2015

Total participants

+29.4% from 2015

Average account balance

$42,172

-1.9% from 2015

Annual return

5.14%

+8.67 pp from 2015

Benchmarks

See 21,241 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,241 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.39M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

141.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$180K

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

+15.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$372

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 codes2E2F2G2J3D

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.
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

1 tripped

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

$976

$65 / participant

Other / not subdivided$976100.0%

% of EOY assets

0.110%

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

$42,172

$88,707-52.5%

$74,184-43.2%

$273,972-84.6%

Participation rate

93.3%

79.4%+13.9pp

76.6%+16.7pp

83.0%+10.3pp

Annual return

5.14%

11.94%-6.8pp

17.74%-12.6pp

41.46%-36.3pp

Employer contribution / active EE

$2,600

$3,159-17.7%

$2,370+9.7%

$4,869-46.6%

Participant deferral / active EE

$5,292

$4,212+25.7%

$3,550+49.1%

$5,287+0.1%

Admin fee / account holder

$46

$8,717-99.5%

$5,586-99.2%

$10,133-99.5%

INNOVATIVE TOOL, INC. 401(K) & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVATIVE TOOL, INC. 401(K) & PROFIT SHARING 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