Retirement plan

PROGRESSIVE METAL MANUFACTURING 401(K) PLAN

Name: PROGRESSIVE METAL MANUFACTURING - PROGRESSIVE METAL MANUFACTURING 401(K) PLAN (2020) Form 5500
Creator: PROGRESSIVE METAL MANUFACTURING
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROGRESSIVE METAL MANUFACTURING 401(K) PLAN, PROGRESSIVE METAL MANUFACTURING

PROGRESSIVE METAL MANUFACTURINGEIN 38-1683040Plan #002PY 2020

3100 E 10 MILE ROAD - WARREN, MI 48091248-546-2827pmmco.comLinkedIn51-200 employeesconsumer goods

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$4.4M

+17.5% from 2019

Total participants

115

+17.3% from 2019

Average account balance

$47,229

+5.0% from 2019

Annual return

4.88%

+2.93 pp from 2019

Benchmarks

See 4,082 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,082 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.91M

Not enough data

1 years with asset history on file

Average account balance

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

$90K

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.

98.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$719K

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

+13.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8629

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 codes2E2F2G2J2T3D3H

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.
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

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

$143K

$1419 / participant

Other / not subdivided$143K100.0%

% of EOY assets

3.228%

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

$47,229

$73,638-35.9%

$95,964-50.8%

$73,497-35.7%

Participation rate

79.2%

76.2%+3.1pp

77.1%+2.1pp

70.7%+8.5pp

Annual return

4.88%

16.78%-11.9pp

91.64%-86.8pp

28.51%-23.6pp

Employer contribution / active EE

$1,900

$1,863+2.0%

$2,541-25.2%

$2,270-16.3%

Participant deferral / active EE

$3,807

$3,617+5.3%

$4,167-8.6%

$3,740+1.8%

Admin fee / account holder

$1,525

$482+216.3%

$6,797-77.6%

$513+197.2%

PROGRESSIVE METAL MANUFACTURING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROGRESSIVE METAL MANUFACTURING 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