Retirement plan

SKAMAR MACHINE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: SKAMAR MACHINE, INC. - SKAMAR MACHINE, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: SKAMAR MACHINE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SKAMAR MACHINE, INC. 401(K) PROFIT SHARING PLAN AND TRUST, SKAMAR MACHINE, INC.

SKAMAR MACHINE, INC.EIN 34-1218531Plan #001PY 2024

1540 COIT AVENUE - EAST CLEVELAND, OH 44112216-249-8670skamar.comLinkedIn11-50 employeesmachinery

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1.8M

+22.0% from 2023

Total participants

-38.1% from 2023

Average account balance

-100.0% from 2023

Annual return

10.96%

+1.09 pp from 2023

Benchmarks

See 14,159 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,159 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.82M

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

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$160K

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

+10.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2H2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$12K

$468 / participant

Other / not subdivided$12K100.0%

% of EOY assets

0.669%

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

$86,940-100.0%

$102,434-100.0%

$80,935-100.0%

Participation rate

0.0%

72.4%-72.4pp

76.5%-76.5pp

67.7%-67.7pp

Annual return

10.96%

18.89%-7.9pp

29.46%-18.5pp

35.66%-24.7pp

Employer contribution / active EE

$1,673

$2,370-29.4%

$3,023-44.7%

$2,757-39.3%

Participant deferral / active EE

$4,473

$4,121+8.5%

$5,055-11.5%

$4,299+4.0%

Admin fee / account holder

$8,047-100.0%

$9,462-100.0%

$6,924-100.0%

SKAMAR MACHINE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SKAMAR MACHINE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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