Retirement plan

FASTCO INDUSTRIES, INC. 401(K) PLAN

Name: FASTCO INDUSTRIES, INC. - FASTCO INDUSTRIES, INC. 401(K) PLAN (2016) 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 2016

P.O. BOX 141427 - GRAND RAPIDS, MI 49534616-389-1418fastcoindustries.comLinkedIn51-200 employeesmachinery

Prospect flagsLow returnsLow employer contribution

How to read this page

Total assets (EOY)

$5.3M

+8.4% from 2015

Total participants

175

0.0% from 2015

Average account balance

$35,264

+5.5% from 2015

Annual return

4.38%

+3.45 pp from 2015

Benchmarks

See 4,221 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,221 peers

Snapshot2016

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
MIDWEST PENSION & PROFIT SHARING SE2+ years Filed as: THE MIDWEST PENSION GROUP Service code 13 · EIN 38-2781642	Contract Administrator	$3,992
MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 52 · EIN 04-1590850	Indirect Investment Fees	$640
DAVID ROMANO2+ years Filed as: DAVID M RAGUSE Service code 53 99 MONROE AVE NW STE 700 · GRAND RAPIDS, MI 49503	Insurance Commissions	$0
DENNIS G. JENKINS, CPA,LLC2+ years Filed as: DENNIS M DUVAL Service code 53 15 CAPITAL AVE NE STE 225 · BATTLE CREEK, MI 49017	Insurance Commissions	$0
MICHAEL F. YATES & COMPANY, INC.2+ years Filed as: MICHAEL JOHN EMERY Service code 53 3300 EAGLE RUN DR NE · GRAND RAPIDS, MI 49525	Insurance Commissions	$0

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

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

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: THE AUDIT GROUP PLLC
Auditor EIN: 461340244
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,264

$60,165-41.4%

$74,184-52.5%

$55,167-36.1%

Participation rate

84.0%

74.2%+9.8pp

76.6%+7.4pp

69.0%+15.0pp

Annual return

4.38%

10.00%-5.6pp

17.74%-13.4pp

169.23%-164.8pp

Employer contribution / active EE

$340

$1,600-78.8%

$2,370-85.7%

$1,963-82.7%

Participant deferral / active EE

$1,891

$2,973-36.4%

$3,550-46.7%

$3,054-38.1%

Admin fee / account holder

$419-100.0%

$5,586-100.0%

$504-100.0%

Provider

Service type

Compensation

MIDWEST PENSION & PROFIT SHARING SE2+ years

Filed as: THE MIDWEST PENSION GROUP

Service code 13 · EIN 38-2781642

Contract Administrator

$3,992

MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$640

DAVID ROMANO2+ years

Filed as: DAVID M RAGUSE

Service code 53

99 MONROE AVE NW STE 700 · GRAND RAPIDS, MI 49503

Insurance Commissions

DENNIS G. JENKINS, CPA,LLC2+ years

Filed as: DENNIS M DUVAL

Service code 53

15 CAPITAL AVE NE STE 225 · BATTLE CREEK, MI 49017

Insurance Commissions

MICHAEL F. YATES & COMPANY, INC.2+ years

Filed as: MICHAEL JOHN EMERY

Service code 53

3300 EAGLE RUN DR NE · GRAND RAPIDS, MI 49525

Insurance Commissions

FASTCO INDUSTRIES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

FASTCO INDUSTRIES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion