Retirement plan

UNITED GRINDING & MACHINE CO. 401(K) PROFIT SHARING PLAN

Name: UNITED GRINDING & MACHINE COMPANY - UNITED GRINDING & MACHINE CO. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: UNITED GRINDING & MACHINE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITED GRINDING & MACHINE CO. 401(K) PROFIT SHARING PLAN, UNITED GRINDING & MACHINE COMPANY

UNITED GRINDING & MACHINE COMPANYEIN 34-1009199Plan #001PY 2024

2315 ELLIS AVE NE - CANTON, OH 44705330-453-7402LinkedIn1-10 employeeselectrical/electronic manufacturing

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.6M

-18.4% from 2023

Total participants

-3.8% from 2023

Average account balance

$165,154

-14.7% from 2023

Annual return

9.95%

-4.13 pp from 2023

Benchmarks

See 22,981 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,981 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.63M

Not enough data

1 years with asset history on file

Average account balance

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

$165K

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.

85.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$111K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+9.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$63062

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 codes2E2G2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$1.4M

$69368 / participant

Other / not subdivided$1M100.0%

% of EOY assets

38.184%

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

$165,154

$117,846+40.1%

$102,434+61.2%

$145,884+13.2%

Participation rate

85.0%

78.6%+6.4pp

76.5%+8.5pp

80.3%+4.7pp

Annual return

9.95%

31.90%-21.9pp

29.46%-19.5pp

551.85%-541.9pp

Employer contribution / active EE

$1,582

$3,615-56.2%

$3,023-47.7%

$4,662-66.1%

Participant deferral / active EE

$3,969

$5,733-30.8%

$5,055-21.5%

$6,690-40.7%

Admin fee / account holder

$63,062

$13,356+372.2%

$9,462+566.5%

$13,392+370.9%

UNITED GRINDING & MACHINE CO. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITED GRINDING & MACHINE CO. 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