Retirement plan

AMERICAN AXLE & MANUFACTURING, INC. PERSONAL SAVINGS PLAN FOR HOURLY-RATE ASSOCIATES

Name: AMERICAN AXLE & MANUFACTURING, INC. - AMERICAN AXLE & MANUFACTURING, INC. PERSONAL SAVINGS PLAN FOR HOURLY-RATE ASSOCIATES (2019) Form 5500
Creator: AMERICAN AXLE & MANUFACTURING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMERICAN AXLE & MANUFACTURING, INC. PERSONAL SAVINGS PLAN FOR HOURLY-RATE ASSOCIATES, AMERICAN AXLE & MANUFACTURING, INC.

AMERICAN AXLE & MANUFACTURING, INC.EIN 38-3138388Plan #004PY 2019

ONE DAUCH DRIVE - DETROIT, MI 482111115313-758-2000

Other plans on this EIN

3 filings

#005Retirement-$502.8M assets #001Retirement-$453.1M assets #002Retirement--

Prospect flagsLow returnsLow participationLow assets / participantLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$233.9M

-3.5% from 2016

Total participants

8,707

+5.9% from 2016

Average account balance

$55,713

-10.4% from 2016

Annual return

4.18%

-6.01 pp from 2016

Benchmarks

See 118 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort118 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$257.94M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

3,292

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.

59.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12.14M

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

+13.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$76

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
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Filed as: FIDELITY INV. INST. OPER. CO. Service code 37 · EIN 04-2647786	Loan Processing	$117,765
RAYMOND JAMES FINANCIAL SERVICES2 years Service code 16 · EIN 59-1531281	Consulting	$33,456
WILLIS TOWERS WATSON US LLC3 years Filed as: WILLIS TOWERS WATSON Service code 16 · EIN 53-0181291	Consulting	$18,979
GEORGE JOHNSON & COMPANY1 year Service code 10 · EIN 38-2029668	Accounting	$16,984

Reportable transactions (Schedule G)

5 rows

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

Category	Counterparty	Relationship / Terms	Address	Amount
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX

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

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

7 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$380K

$50 / participant

Other / not subdivided$380K100.0%

% of EOY assets

0.163%

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: GEORGE JOHNSON & COMPANY
Auditor EIN: 382029668
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,713

$117,238-52.5%

$87,102-36.0%

$82,204-32.2%

Participation rate

40.2%

87.2%-47.0pp

76.9%-36.7pp

73.4%-33.2pp

Annual return

4.18%

25.80%-21.6pp

28.19%-24.0pp

26.31%-22.1pp

Employer contribution / active EE

$677

$3,535-80.9%

$2,521-73.2%

$2,707-75.0%

Participant deferral / active EE

$1,513

$5,976-74.7%

$4,048-62.6%

$4,246-64.4%

Admin fee / account holder

$91

$81+11.5%

$7,493-98.8%

$76+19.8%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Filed as: FIDELITY INV. INST. OPER. CO.

Service code 37 · EIN 04-2647786

Loan Processing

$117,765

RAYMOND JAMES FINANCIAL SERVICES2 years

Service code 16 · EIN 59-1531281

Consulting

$33,456

WILLIS TOWERS WATSON US LLC3 years

Filed as: WILLIS TOWERS WATSON

Service code 16 · EIN 53-0181291

Consulting

$18,979

GEORGE JOHNSON & COMPANY1 year

Service code 10 · EIN 38-2029668

Accounting

$16,984

AMERICAN AXLE & MANUFACTURING, INC. PERSONAL SAVINGS PLAN FOR HOURLY-RATE ASSOCIATES

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMERICAN AXLE & MANUFACTURING, INC. PERSONAL SAVINGS PLAN FOR HOURLY-RATE ASSOCIATES

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

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