Retirement plan

RAPID-LINE, INC. EMPLOYEE STOCK OWNERSHIP AND SAVINGS PLAN

Name: RAPID-LINE, INC. - RAPID-LINE, INC. EMPLOYEE STOCK OWNERSHIP AND SAVINGS PLAN (2018) Form 5500
Creator: RAPID-LINE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RAPID-LINE, INC. EMPLOYEE STOCK OWNERSHIP AND SAVINGS PLAN, RAPID-LINE, INC.

RAPID-LINE, INC.EIN 38-2853756Plan #001PY 2018

1475 GEZON PKWY., SW - GRAND RAPIDS, MI 495099388616-530-0061rapid-line.comLinkedIn51-200 employeesmechanical or industrial engineering

Prospect flagsLow returnsHigh feesRecently reached 100 employeesFailed to transmit contributions

Top hat statement on fileNQDC

Filed April 26, 2016

Plan administrator

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1475 Gezon Pkwy SW

Grand Rapids State: MI Zip Code: 49509

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Plans declared (2)

Stock Appreciation Rights Plan1 emp
Deferred Compensation Agreement3 emp

Total covered: 4 employees

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Total assets (EOY)

$12.2M

-10.5% from 2017

Total participants

153

+22.4% from 2017

Average account balance

$86,234

-37.6% from 2017

Annual return

-10.66%

-24.23 pp from 2017

Benchmarks

See 14,949 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,949 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.28M

Not enough data

1 years with asset history on file

Average account balance

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

$63K

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.

178

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.09M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

-15.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$137

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 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$21,822
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH Service code 27 · EIN 13-5674085	Advisory (Plan)	$8,113
GREAT-WEST LIFE & ANNUITY INSURANCE4+ years Service code 13 · EIN 84-0467907	Contract Administrator	$0

Plan features & details

Pension benefit codes2E2F2H2I2J2K2O2Q2T3F3H3I

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2I
Stock bonus
Stock bonus plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

4 tripped

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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$76K

$827 / participant

Investment mgmt$10K12.8%
Contract admin$22K28.7%
Other / not subdivided$45K58.5%

% of EOY assets

0.621%

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: BDO USA, LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$86,234

$62,589+37.8%

$76,768+12.3%

$64,173+34.4%

Participation rate

88.0%

72.8%+15.2pp

77.0%+11.1pp

69.6%+18.5pp

Annual return

-10.66%

-1.95%-8.7pp

2.43%-13.1pp

7.63%-18.3pp

Employer contribution / active EE

$6,631

$1,832+261.9%

$2,485+166.8%

$2,381+178.5%

Participant deferral / active EE

$3,021

$3,145-3.9%

$3,852-21.6%

$3,470-12.9%

Admin fee / account holder

$536

$4,667-88.5%

$6,675-92.0%

$4,887-89.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$21,822

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH

Service code 27 · EIN 13-5674085

Advisory (Plan)

$8,113

GREAT-WEST LIFE & ANNUITY INSURANCE4+ years

Service code 13 · EIN 84-0467907

Contract Administrator

RAPID-LINE, INC. EMPLOYEE STOCK OWNERSHIP AND SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RAPID-LINE, INC. EMPLOYEE STOCK OWNERSHIP AND SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

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