Retirement plan

UNIVERSAL METAL PRODUCTS, INC. 401(K) RETIREMENT AND SAVINGS PLAN

Name: UNIVERSAL METAL PRODUCTS, INC. - UNIVERSAL METAL PRODUCTS, INC. 401(K) RETIREMENT AND SAVINGS PLAN (2024) Form 5500
Creator: UNIVERSAL METAL PRODUCTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNIVERSAL METAL PRODUCTS, INC. 401(K) RETIREMENT AND SAVINGS PLAN, UNIVERSAL METAL PRODUCTS, INC.

UNIVERSAL METAL PRODUCTS, INC.EIN 34-1535109Plan #001PY 2024

29980 LAKELAND BLVD. - WICKLIFFE, OH 44092440-943-3040universalmetalproducts.comLinkedIn201-500 employeesautomotive

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$14.6M

+14.2% from 2023

Total participants

260

+2.0% from 2023

Average account balance

$74,892

+14.8% from 2023

Annual return

13.10%

-2.80 pp from 2023

Benchmarks

See 4,101 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,101 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.60M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

195

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.

72.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$269

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 3 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.9 years Service code 12 · EIN 27-2037969	Direct payment from the plan; Partici...	$27,212
PNC BANK, N.A.4 years Filed as: PNC INSTITUTIONAL ASSET MANAGEMENT Service code 27 1900 E 9TH STREET · CLEVELAND, OH 44114	Advisory (Plan)	$19,504
NEWPORT GROUP, INC.7 years Filed as: NEWPORT TRUST COMPANY Service code 21 · EIN 27-4411131	Bank Trustee	$5,795

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$53K

$221 / participant

Recordkeeping$5K8.9%
Trustee / custodial$6K11.0%
Investment mgmt$20K37.1%
Contract admin$23K42.9%

% of EOY assets

0.360%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MEADEN & MOORE LTD.
Auditor EIN: 341818258
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$74,892

$79,209-5.4%

$102,434-26.9%

$74,459+0.6%

Participation rate

72.7%

74.8%-2.1pp

76.5%-3.8pp

67.2%+5.5pp

Annual return

13.10%

54.98%-41.9pp

29.46%-16.4pp

1369.70%-1356.6pp

Employer contribution / active EE

$609

$2,362-74.2%

$3,023-79.9%

$2,626-76.8%

Participant deferral / active EE

$3,648

$4,417-17.4%

$5,055-27.8%

$4,350-16.1%

Admin fee / account holder

$269

$2,002-86.5%

$9,462-97.2%

$1,945-86.2%

Provider

Service type

Compensation

NEWPORT GROUP, INC.9 years

Service code 12 · EIN 27-2037969

Direct payment from the plan; Partici...

$27,212

PNC BANK, N.A.4 years

Filed as: PNC INSTITUTIONAL ASSET MANAGEMENT

Service code 27

1900 E 9TH STREET · CLEVELAND, OH 44114

Advisory (Plan)

$19,504

NEWPORT GROUP, INC.7 years

Filed as: NEWPORT TRUST COMPANY

Service code 21 · EIN 27-4411131

Bank Trustee

$5,795

UNIVERSAL METAL PRODUCTS, INC. 401(K) RETIREMENT AND SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNIVERSAL METAL PRODUCTS, INC. 401(K) RETIREMENT AND SAVINGS 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