Retirement plan

SHEET METAL FABRICATORS CORP. 401(K) RETIREMENT PLAN

Name: SHEET METAL FABRICATORS CORP. - SHEET METAL FABRICATORS CORP. 401(K) RETIREMENT PLAN (2020) Form 5500
Creator: SHEET METAL FABRICATORS CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL FABRICATORS CORP. 401(K) RETIREMENT PLAN, SHEET METAL FABRICATORS CORP.

SHEET METAL FABRICATORS CORP.EIN 34-1116152Plan #001PY 2020

8809 TWINBROOK RD - MENTOR, OH 44060440-951-4848

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.2M

+16.1% from 2019

Total participants

+9.1% from 2019

Average account balance

$116,771

-18.8% from 2019

Annual return

17.05%

-8.23 pp from 2019

Benchmarks

See 21,449 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,449 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.85M

Not enough data

1 years with asset history on file

Average account balance

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

$185K

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.

76.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$65K

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

+13.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3935

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 codes2E2F2G2J2T3D

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.
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

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

$50K

$4560 / participant

Other / not subdivided$50K100.0%

% of EOY assets

4.296%

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

$116,771

$112,121+4.1%

$95,960+21.7%

$158,966-26.5%

Participation rate

81.8%

79.0%+2.8pp

77.1%+4.7pp

82.0%-0.1pp

Annual return

17.05%

171.16%-154.1pp

91.63%-74.6pp

302.95%-285.9pp

Employer contribution / active EE

$1,364

$3,199-57.4%

$2,541-46.3%

$4,762-71.4%

Participant deferral / active EE

$2,187

$4,784-54.3%

$4,167-47.5%

$5,983-63.4%

Admin fee / account holder

$5,016

$10,135-50.5%

$6,797-26.2%

$11,250-55.4%

SHEET METAL FABRICATORS CORP. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL FABRICATORS CORP. 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