Retirement plan

NORTHERN MACHINE TOOL COMPANY 401(K) PROFIT SHARING PLAN

Name: NORTHERN MACHINE TOOL COMPANY - NORTHERN MACHINE TOOL COMPANY 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: NORTHERN MACHINE TOOL COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHERN MACHINE TOOL COMPANY 401(K) PROFIT SHARING PLAN, NORTHERN MACHINE TOOL COMPANY

NORTHERN MACHINE TOOL COMPANYEIN 38-1749993Plan #003PY 2020

761 ALBERTA AVENUE - MUSKEGON, MI 49441231-755-1603nmtdie.comLinkedIn11-50 employeesautomotive

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$8.3M

+1.8% from 2019

Total participants

-5.6% from 2019

Average account balance

$244,338

+7.8% from 2019

Annual return

6.58%

-9.48 pp from 2019

Benchmarks

See 21,446 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,446 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.91M

Not enough data

1 years with asset history on file

Average account balance

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

$219K

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$156K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+9.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$40883

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 codes2G2J2T2E3D2F

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.

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

$566K

$29771 / participant

Other / not subdivided$566K100.0%

% of EOY assets

6.809%

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

$244,338

$112,131+117.9%

$95,964+154.6%

$158,982+53.7%

Participation rate

100.0%

79.0%+21.0pp

77.1%+22.9pp

82.0%+18.0pp

Annual return

6.58%

171.19%-164.6pp

91.64%-85.1pp

302.99%-296.4pp

Employer contribution / active EE

$2,385

$3,199-25.4%

$2,541-6.1%

$4,763-49.9%

Participant deferral / active EE

$5,810

$4,784+21.4%

$4,167+39.4%

$5,983-2.9%

Admin fee / account holder

$16,637

$10,136+64.1%

$6,797+144.8%

$11,252+47.9%

NORTHERN MACHINE TOOL COMPANY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHERN MACHINE TOOL COMPANY 401(K) PROFIT SHARING 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