Retirement plan

MUNSTER STEEL CO., INC. UNION EMPLOYEES' 401(K) PLAN

Name: MUNSTER STEEL CO., INC. - MUNSTER STEEL CO., INC. UNION EMPLOYEES' 401(K) PLAN (2023) Form 5500
Creator: MUNSTER STEEL CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MUNSTER STEEL CO., INC. UNION EMPLOYEES' 401(K) PLAN, MUNSTER STEEL CO., INC.

MUNSTER STEEL CO., INC.EIN 35-1012920Plan #003PY 2023

1501 HUEHN ST. - HAMMOND, IN 46327219-924-5198LinkedIn11-50 employeesconstruction

Other plans on this EIN

1 filing

#002Retirement-$3.0M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$520K

+27.8% from 2022

Total participants

+15.0% from 2022

Average account balance

$24,777

+21.7% from 2022

Annual return

8.69%

+21.61 pp from 2022

Benchmarks

See 22,632 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,632 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$867K

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$118K

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

+12.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1024

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

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

$33K

$1747 / participant

Other / not subdivided$33K100.0%

% of EOY assets

6.379%

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

$24,777

$110,240-77.5%

$96,544-74.3%

$139,487-82.2%

Participation rate

89.5%

78.1%+11.3pp

76.0%+13.5pp

80.3%+9.1pp

Annual return

8.69%

26.41%-17.7pp

25.88%-17.2pp

373.84%-365.2pp

Employer contribution / active EE

$2,937

$3,622-18.9%

$2,966-1.0%

$4,755-38.2%

Participant deferral / active EE

$2,712

$5,549-51.1%

$4,851-44.1%

$6,713-59.6%

Admin fee / account holder

$1,581

$11,602-86.4%

$8,254-80.9%

$11,407-86.1%

MUNSTER STEEL CO., INC. UNION EMPLOYEES' 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MUNSTER STEEL CO., INC. UNION EMPLOYEES' 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