Retirement plan

PEERLESS STEEL COMPANY EMPLOYEES' PROFIT SHARING AND 401(K) PLAN

Name: PEERLESS STEEL COMPANY - PEERLESS STEEL COMPANY EMPLOYEES' PROFIT SHARING AND 401(K) PLAN (2020) Form 5500
Creator: PEERLESS STEEL COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PEERLESS STEEL COMPANY EMPLOYEES' PROFIT SHARING AND 401(K) PLAN, PEERLESS STEEL COMPANY

PEERLESS STEEL COMPANYEIN 38-1573882Plan #001PY 2020

2450 AUSTIN - TROY, MI 48083248-528-3200LinkedIn51-200 employeesmining & metals

Prospect flagsLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$8.7M

+17.5% from 2019

Total participants

175

-8.9% from 2019

Average account balance

$74,028

+26.4% from 2019

Annual return

16.56%

+0.20 pp from 2019

Benchmarks

See 2,271 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,271 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.45M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

121

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.

60.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$548K

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

+9.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$525

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
FIFTH THIRD BANK RETIREMENT SERVICE6+ years Service code 64 38 FOUNTAIN SQUARE PLAZA · CINCINNATI, OH 45263	Recordkeeping Fees	$23,081
MOORE COLSON1 year Filed as: MOORE STEPHENS DOEREN MAYHEW & CO P Service code 10 305 W BIG BEAVER RD STE 200 · TROY, MI 48084	Accounting	$9,998

Plan features & details

Pension benefit codes2E2G2J2K2T3B3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$33K

$219 / participant

Investment mgmt$23K69.8%
Contract admin$10K30.2%

% of EOY assets

0.379%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: MOORE DOEREN MAYHEW
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$74,028

$81,474-9.1%

$133,959-44.7%

$73,493+0.7%

Participation rate

62.3%

76.4%-14.1pp

79.8%-17.6pp

70.7%-8.4pp

Annual return

16.56%

19.40%-2.8pp

45.09%-28.5pp

28.51%-12.0pp

Employer contribution / active EE

$496

$2,209-77.5%

$3,919-87.3%

$2,270-78.1%

Participant deferral / active EE

$2,825

$3,786-25.4%

$5,047-44.0%

$3,740-24.5%

Admin fee / account holder

$280

$713-60.7%

$8,928-96.9%

$513-45.4%

Provider

Service type

Compensation

FIFTH THIRD BANK RETIREMENT SERVICE6+ years

Service code 64

38 FOUNTAIN SQUARE PLAZA · CINCINNATI, OH 45263

Recordkeeping Fees

$23,081

MOORE COLSON1 year

Filed as: MOORE STEPHENS DOEREN MAYHEW & CO P

Service code 10

305 W BIG BEAVER RD STE 200 · TROY, MI 48084

Accounting

$9,998

PEERLESS STEEL COMPANY EMPLOYEES' PROFIT SHARING AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PEERLESS STEEL COMPANY EMPLOYEES' PROFIT SHARING AND 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