Retirement plan

SORBOTHANE, INC. PROFIT SHARING 401(K) PLAN

Name: SORBOTHANE, INC. - SORBOTHANE, INC. PROFIT SHARING 401(K) PLAN (2022) Form 5500
Creator: SORBOTHANE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SORBOTHANE, INC. PROFIT SHARING 401(K) PLAN, SORBOTHANE, INC.

SORBOTHANE, INC.EIN 34-1363941Plan #001PY 2022

2144 STATE ROUTE 59 - KENT, OH 44240330-678-9444sorbothane.comLinkedIn11-50 employeesplastics

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2.9M

-19.0% from 2021

Total participants

+3.6% from 2021

Average account balance

$110,962

-19.0% from 2021

Annual return

-21.03%

-36.13 pp from 2021

Benchmarks

See 5,555 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort5,555 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.34M

Not enough data

1 years with asset history on file

Average account balance

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

$155K

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.

112.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$195K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+15.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4171

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 codes2E2F2G2J2T3D3B

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$179K

$6868 / participant

Other / not subdivided$179K100.0%

% of EOY assets

6.189%

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

$110,962

$73,019+52.0%

$90,766+22.3%

$68,490+62.0%

Participation rate

88.5%

70.8%+17.6pp

75.7%+12.8pp

67.9%+20.6pp

Annual return

-21.03%

-13.81%-7.2pp

-12.16%-8.9pp

-7.85%-13.2pp

Employer contribution / active EE

$3,550

$2,193+61.9%

$2,922+21.5%

$2,597+36.7%

Participant deferral / active EE

$5,231

$3,626+44.3%

$4,565+14.6%

$4,028+29.9%

Admin fee / account holder

$6,868

$5,897+16.5%

$8,446-18.7%

$5,403+27.1%

SORBOTHANE, INC. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SORBOTHANE, INC. PROFIT SHARING 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