Retirement plan

PROGRESSIVE METAL MANUFACTURING 401(K) PLAN

Name: PROGRESSIVE METAL MANUFACTURING - PROGRESSIVE METAL MANUFACTURING 401(K) PLAN (2021) 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 2021

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5.4M

+22.2% from 2020

Total participants

113

-1.7% from 2020

Average account balance

$58,951

+24.8% from 2020

Annual return

20.39%

+15.51 pp from 2020

Benchmarks

See 133 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Cohort133 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.07M

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

96.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$655K

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

+14.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8936

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

Top 2 by compensation

Provider	Service type	Compensation
CAPFINANCIAL PARTNERS LLC1 year Filed as: CAPTRUST INVESTMENT ADVISORS Service code 26 8031 M 15 · CLARKSTON, MI 48348	Advisory (Participants)	$36,060
FREEDOM ONE RETIREMENT SERVICES LLC1 year Filed as: FREEDOM ONE RETIREMENT SERVICES Service code 13 8031 M 15 · CLARKSTON, MI 48348	Contract Administrator	$8,263

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$46K

$465 / participant

Investment mgmt$36K78.3%
Contract admin$8K17.9%
Other / not subdivided$2K3.8%

% of EOY assets

0.850%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MRPR GROUP, P.C.
Auditor EIN: 382144969
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$58,951

$90,590-34.9%

$111,308-47.0%

Participation rate

78.8%

76.1%+2.7pp

77.3%+1.5pp

Annual return

20.39%

11.74%+8.7pp

54.67%-34.3pp

Employer contribution / active EE

$1,946

$1,916+1.5%

$2,732-28.8%

Participant deferral / active EE

$3,770

$4,059-7.1%

$4,487-16.0%

Admin fee / account holder

$501

$3,379-85.2%

$7,965-93.7%

Provider

Service type

Compensation

CAPFINANCIAL PARTNERS LLC1 year

Filed as: CAPTRUST INVESTMENT ADVISORS

Service code 26

8031 M 15 · CLARKSTON, MI 48348

Advisory (Participants)

$36,060

FREEDOM ONE RETIREMENT SERVICES LLC1 year

Filed as: FREEDOM ONE RETIREMENT SERVICES

Service code 13

8031 M 15 · CLARKSTON, MI 48348

Contract Administrator

$8,263

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