Retirement plan

FASTCO INDUSTRIES, INC. 401(K) PLAN

Name: FASTCO INDUSTRIES, INC. - FASTCO INDUSTRIES, INC. 401(K) PLAN (2024) Form 5500
Creator: FASTCO INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FASTCO INDUSTRIES, INC. 401(K) PLAN, FASTCO INDUSTRIES, INC.

FASTCO INDUSTRIES, INC.EIN 38-2253225Plan #001PY 2024

2685 MULLINS NW - GRAND RAPIDS, MI 49534616-389-1418fastcoindustries.comLinkedIn51-200 employeesmachinery

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$5.6M

-4.6% from 2023

Total participants

146

-2.7% from 2023

Average account balance

$42,979

-7.5% from 2023

Annual return

15.31%

-1.15 pp from 2023

Benchmarks

See 4,101 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,101 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.63M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

131

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.

86.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$504K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$19

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 4 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC8 years Service code 27 4340 REDWOOD HWY · SAN RAFAEL CA, CA 94903	Advisory (Plan)	$23,341
THE MICHIGAN PENSION GROUP, INC.3 years Filed as: THE MICHIGAN PENSION GROUP INC Service code 13	Contract Administrator	$4,679
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$1,260
THE MICHIGAN PENSION GROUP, INC.1 year Filed as: THE MICHIGAN PENSION GROUP, INC Service code 13 15 CAPITAL AVE NE · BATTLE CREEK, MI 49017	Contract Administrator	$900

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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

$3K

$23 / participant

Investment mgmt$2K91.7%
Contract admin$2108.3%

% of EOY assets

0.045%

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: WEINLANDER FITZHUGH
Auditor EIN: 382272300
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,979

$79,209-45.7%

$102,434-58.0%

$74,459-42.3%

Participation rate

86.6%

74.8%+11.8pp

76.5%+10.1pp

67.2%+19.4pp

Annual return

15.31%

54.98%-39.7pp

29.46%-14.1pp

1369.70%-1354.4pp

Employer contribution / active EE

$1,355

$2,362-42.6%

$3,023-55.2%

$2,626-48.4%

Participant deferral / active EE

$3,144

$4,417-28.8%

$5,055-37.8%

$4,350-27.7%

Admin fee / account holder

$19

$2,002-99.0%

$9,462-99.8%

$1,945-99.0%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC8 years

Service code 27

4340 REDWOOD HWY · SAN RAFAEL CA, CA 94903

Advisory (Plan)

$23,341

THE MICHIGAN PENSION GROUP, INC.3 years

Filed as: THE MICHIGAN PENSION GROUP INC

Service code 13

Contract Administrator

$4,679

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$1,260

THE MICHIGAN PENSION GROUP, INC.1 year

Filed as: THE MICHIGAN PENSION GROUP, INC

Service code 13

15 CAPITAL AVE NE · BATTLE CREEK, MI 49017

Contract Administrator

$900

FASTCO INDUSTRIES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FASTCO INDUSTRIES, INC. 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