Retirement plan

IBEW LU2221 EMPLOYEE RETIREMENT PLAN

Name: NORTHERN STAR INDUSTRIES, INC. - IBEW LU2221 EMPLOYEE RETIREMENT PLAN (2023) Form 5500
Creator: NORTHERN STAR INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LU2221 EMPLOYEE RETIREMENT PLAN, NORTHERN STAR INDUSTRIES, INC.

NORTHERN STAR INDUSTRIES, INC.EIN 38-1683485Plan #005PY 2023

130 N INDUSTRIAL DRIVE - IRON MOUNTAIN, MI 49801906-776-3499northernstarind.comLinkedIn201-500 employeeselectrical/electronic manufacturing

Other plans on this EIN

1 filing

#001Retirement-$40.5M assets

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$16.6M

+20.1% from 2022

Total participants

627

+13.2% from 2022

Average account balance

$28,380

+6.5% from 2022

Annual return

16.47%

+34.39 pp from 2022

Benchmarks

See 2,422 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,422 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.93M

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

406

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

$2.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+19.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$191

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
SAGEVIEW ADVISORY GROUP, LLC8 years Filed as: SAGEVIEW ADVISORY GROUP Service code 26 · EIN 33-0818667 4000 MACARTHUR BLVD. · IRVINE, CA 92614	Advisory (Participants)	$20,605
JOHN HANCOCK LIFE INSURANCE COMPANY9+ years Filed as: JOHN HANCOCK USA Service code 15 · EIN 01-0233346 PO BOX 600 · BUFFALO, NY 142010600	Recordkeeping	$5,408

Plan features & details

Pension benefit codes2E2F2J2K2R2T3D

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).
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.
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

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$78K

$147 / participant

Investment mgmt$21K26.3%
Contract admin$58K73.7%

% of EOY assets

0.473%

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: WIPFLI LLP
Auditor EIN: 390758449
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,380

$99,201-71.4%

$96,544-70.6%

$74,473-61.9%

Participation rate

91.9%

80.7%+11.2pp

76.0%+15.9pp

70.7%+21.2pp

Annual return

16.47%

22.40%-5.9pp

25.88%-9.4pp

34.36%-17.9pp

Employer contribution / active EE

$1,406

$2,570-45.3%

$2,966-52.6%

$2,638-46.7%

Participant deferral / active EE

$2,330

$4,938-52.8%

$4,851-52.0%

$4,530-48.6%

Admin fee / account holder

$134

$225-40.3%

$8,254-98.4%

$347-61.4%

Provider

Service type

Compensation

SAGEVIEW ADVISORY GROUP, LLC8 years

Filed as: SAGEVIEW ADVISORY GROUP

Service code 26 · EIN 33-0818667

4000 MACARTHUR BLVD. · IRVINE, CA 92614

Advisory (Participants)

$20,605

JOHN HANCOCK LIFE INSURANCE COMPANY9+ years

Filed as: JOHN HANCOCK USA

Service code 15 · EIN 01-0233346

PO BOX 600 · BUFFALO, NY 142010600

Recordkeeping

$5,408

IBEW LU2221 EMPLOYEE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LU2221 EMPLOYEE RETIREMENT 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