Retirement plan

SWANTON WELDING AND MACHINING CO., INC. PROFIT SHARING PLAN

Name: SWANTON WELDING AND MACHINING CO., INC. - SWANTON WELDING AND MACHINING CO., INC. PROFIT SHARING PLAN (2021) Form 5500
Creator: SWANTON WELDING AND MACHINING CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SWANTON WELDING AND MACHINING CO., INC. PROFIT SHARING PLAN, SWANTON WELDING AND MACHINING CO., INC.

SWANTON WELDING AND MACHINING CO., INC.EIN 34-1374577Plan #001PY 2021

407 ZEITER WAY - SWANTON, OH 43558419-826-4816

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.9M

+11.4% from 2020

Total participants

183

+5.8% from 2020

Average account balance

$44,455

+7.0% from 2020

Annual return

9.43%

+0.61 pp from 2020

Benchmarks

See 4,054 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,054 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.77M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

174

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.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$890K

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

+11.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$145

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION4 years Service code 13 · EIN 35-1140070	Contract Administrator	$32,169
MERRILL LYNCH PIERCE FENNER & SMITH3 years Filed as: MERRILL LYNCH Service code 27 · EIN 13-5674085	Advisory (Plan)	$21,962

Plan features & details

Pension benefit codes2E2F2J2T3D2G

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

3 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$54K

$536 / participant

Investment mgmt$22K40.6%
Contract admin$32K59.4%

% of EOY assets

0.684%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: REHMANN ROBSON LLC
Auditor EIN: 383635706
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,455

$84,936-47.7%

$111,308-60.1%

$79,391-44.0%

Participation rate

95.0%

75.9%+19.2pp

77.3%+17.7pp

70.7%+24.3pp

Annual return

9.43%

17.45%-8.0pp

54.67%-45.2pp

116.88%-107.5pp

Employer contribution / active EE

$2,019

$1,979+2.0%

$2,732-26.1%

$2,428-16.8%

Participant deferral / active EE

$3,945

$3,888+1.5%

$4,487-12.1%

$4,046-2.5%

Admin fee / account holder

$304

$537-43.4%

$7,965-96.2%

$627-51.5%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION4 years

Service code 13 · EIN 35-1140070

Contract Administrator

$32,169

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Filed as: MERRILL LYNCH

Service code 27 · EIN 13-5674085

Advisory (Plan)

$21,962

SWANTON WELDING AND MACHINING CO., INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SWANTON WELDING AND MACHINING CO., INC. 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