Retirement plan

BUITER TOOL & DIE, INC. 401(K) PROFIT SHARING PLAN

Name: BUITER TOOL & DIE, INC. - BUITER TOOL & DIE, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: BUITER TOOL & DIE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BUITER TOOL & DIE, INC. 401(K) PROFIT SHARING PLAN, BUITER TOOL & DIE, INC.

BUITER TOOL & DIE, INC.EIN 38-2289544Plan #001PY 2023

8187 SOUTH DIVISION AVENUE - GRAND RAPIDS, MI 495487233616-455-7410buitertool.comLinkedIn11-50 employeesautomotive

Prospect flagsLow returnsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$3.5M

+4.7% from 2022

Total participants

-5.9% from 2022

Average account balance

$236,542

+18.7% from 2022

Annual return

8.77%

+20.11 pp from 2022

Benchmarks

See 22,643 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,643 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.79M

Not enough data

1 years with asset history on file

Average account balance

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

$179K

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.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$23K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+7.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$137683

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 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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$183K

$16659 / participant

Other / not subdivided$183K100.0%

% of EOY assets

5.165%

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

$236,542

$110,212+114.6%

$96,534+145.0%

$139,466+69.6%

Participation rate

90.9%

78.1%+12.8pp

76.0%+14.9pp

80.3%+10.6pp

Annual return

8.77%

26.42%-17.7pp

25.88%-17.1pp

373.66%-364.9pp

Employer contribution / active EE

$3,620-100.0%

$2,965-100.0%

$4,754-100.0%

Participant deferral / active EE

$2,976

$5,547-46.3%

$4,851-38.6%

$6,712-55.7%

Admin fee / account holder

$12,217

$11,599+5.3%

$8,253+48.0%

$11,409+7.1%

BUITER TOOL & DIE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BUITER TOOL & DIE, INC. 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