Retirement plan

BEST METAL PRODUCTS COMPANY EMPLOYEES PROFIT SHARING PLAN

Name: BEST METAL PRODUCTS COMPANY - BEST METAL PRODUCTS COMPANY EMPLOYEES PROFIT SHARING PLAN (2020) Form 5500
Creator: BEST METAL PRODUCTS COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BEST METAL PRODUCTS COMPANY EMPLOYEES PROFIT SHARING PLAN, BEST METAL PRODUCTS COMPANY

BEST METAL PRODUCTS COMPANYEIN 38-1806291Plan #001PY 2020

3570 RALEIGH DRIVE SE - GRAND RAPIDS, MI 495122064616-942-7141bestmetalproducts.comLinkedIn51-200 employeesmachinery

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$3.7M

No prior year

Total participants

128

No prior year

Average account balance

$29,592

No prior year

Annual return

16.77%

No prior year

Benchmarks

See 14,881 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,881 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.05M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

102

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.

82.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$236K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+12.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$359

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

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 codes2E2F2G2J3D2T

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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$23K

$258 / participant

Other / not subdivided$23K100.0%

% of EOY assets

0.623%

all-in expense ratio

Categories reported

0 / 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: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,592

$78,428-62.3%

$95,960-69.2%

$79,852-62.9%

Participation rate

97.8%

73.5%+24.3pp

77.1%+20.7pp

69.6%+28.1pp

Annual return

16.77%

19.37%-2.6pp

91.63%-74.9pp

31.72%-14.9pp

Employer contribution / active EE

$886

$1,945-54.5%

$2,541-65.1%

$2,471-64.2%

Participant deferral / active EE

$1,993

$3,440-42.1%

$4,167-52.2%

$3,740-46.7%

Admin fee / account holder

$184

$5,622-96.7%

$6,797-97.3%

$5,306-96.5%

BEST METAL PRODUCTS COMPANY EMPLOYEES PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BEST METAL PRODUCTS COMPANY EMPLOYEES 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