Retirement plan

STEELCASE INC. RETIREMENT PLAN

Name: STEELCASE INC. - STEELCASE INC. RETIREMENT PLAN (2022) Form 5500
Creator: STEELCASE INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STEELCASE INC. RETIREMENT PLAN, STEELCASE INC.

STEELCASE INC.EIN 38-0819050Plan #001PY 2022

901 44TH STREET SOUTH EAST - GRAND RAPIDS, MI 49508616-246-4223steelcase.comLinkedIn10001+ employeesfurniture

Other plans on this EIN

1 filing

#019Retirement-$1.0M assets

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$1559.8M

-12.2% from 2017

Total participants

6,596

-4.2% from 2017

Average account balance

$240,746

-9.9% from 2017

Annual return

4.31%

-22.03 pp from 2017

Benchmarks

See 811 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort811 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.50B

Not enough data

1 years with asset history on file

Average account balance

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

$265K

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.

5,640

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.

98.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$88.08M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+10.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$123

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

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE5 years Service code 15 · EIN 84-0467907	Recordkeeping	$361,675
GREAT-WEST LIFE & ANNUITY INSURANCE7+ years Filed as: ADVISED ASSETS GROUP, LLC Service code 26 · EIN 84-1532243	Advisory (Participants)	$179,237
AON CONSULTING1 year Filed as: AON INVESTMENTS USA INC Service code 16 · EIN 22-2232264	Consulting	$89,999
BDO USA, LLP5 years Filed as: BDO USA LLP Service code 10 · EIN 13-5381590	Accounting	$38,385
MILLER JOHNSON1 year Filed as: MILLER JOHNSON SNELL & CUMMISKEY PL Service code 29 250 MONROE AVE NW STE 800 · GRAND RAPIDS, MI 49503	Legal	$34,522
GRANDVILLE PRINTING1 year Filed as: GRANDVILLE PRINTING COMPANY Service code 99 4719 IVANREST AVE SW · GRANDVILLE, MI 49418	Other Fees	$8,336
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GWFS EQUITIES INC Service code 33 · EIN 84-0965407	Other investment fees and expenses; S...	$7,170

Reportable transactions (Schedule G)

3 rows

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

Category	Counterparty	Relationship / Terms	Address	Amount
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX

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Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$717K

$149 / participant

Investment mgmt$292K40.8%
Other / not subdivided$424K59.2%

% of EOY assets

0.046%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$240,746

$130,052+85.1%

$86,717+177.6%

$77,906+209.0%

Participation rate

97.6%

85.9%+11.6pp

76.6%+21.0pp

73.7%+23.9pp

Annual return

4.31%

-12.73%+17.0pp

35.97%-31.7pp

12.16%-7.8pp

Employer contribution / active EE

$3,748

$3,214+16.6%

$2,837+32.1%

$2,846+31.7%

Participant deferral / active EE

$8,377

$5,741+45.9%

$4,657+79.9%

$4,805+74.3%

Admin fee / account holder

$111

$132-16.1%

$7,494-98.5%

$133-16.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE5 years

Service code 15 · EIN 84-0467907

Recordkeeping

$361,675

GREAT-WEST LIFE & ANNUITY INSURANCE7+ years

Filed as: ADVISED ASSETS GROUP, LLC

Service code 26 · EIN 84-1532243

Advisory (Participants)

$179,237

AON CONSULTING1 year

Filed as: AON INVESTMENTS USA INC

Service code 16 · EIN 22-2232264

Consulting

$89,999

BDO USA, LLP5 years

Filed as: BDO USA LLP

Service code 10 · EIN 13-5381590

Accounting

$38,385

MILLER JOHNSON1 year

Filed as: MILLER JOHNSON SNELL & CUMMISKEY PL

Service code 29

250 MONROE AVE NW STE 800 · GRAND RAPIDS, MI 49503

Legal

$34,522

GRANDVILLE PRINTING1 year

Filed as: GRANDVILLE PRINTING COMPANY

Service code 99

4719 IVANREST AVE SW · GRANDVILLE, MI 49418

Other Fees

$8,336

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GWFS EQUITIES INC

Service code 33 · EIN 84-0965407

Other investment fees and expenses; S...

$7,170

STEELCASE INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STEELCASE INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

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