Retirement plan

HUTCHINSON CORPORATION 401(K) PLAN & TRUST

Name: HUTCHINSON FMS, INC. - HUTCHINSON CORPORATION 401(K) PLAN & TRUST (2023) Form 5500
Creator: HUTCHINSON FMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HUTCHINSON CORPORATION 401(K) PLAN & TRUST, HUTCHINSON FMS, INC.

HUTCHINSON FMS, INC.EIN 38-3269787Plan #001PY 2023

3201 CROSS CREEK PARKWAY - AUBURN HILLS, MI 48326860-933-0690LinkedIn501-1000 employeestransportation/trucking/railroad

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$189.1M

+16.1% from 2022

Total participants

2,554

+2.9% from 2022

Average account balance

$109,741

+12.4% from 2022

Annual return

19.09%

+36.41 pp from 2022

Benchmarks

See 809 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort809 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$213.54M

Not enough data

1 years with asset history on file

Average account balance

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

$126K

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.

1,701

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.

63.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$13.10M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+16.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$102

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
ADP BROKER-DEALER4 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$146,527
PLANTE & MORAN, PLLC6 years Service code 15 · EIN 38-1357951	Recordkeeping	$14,600
BDG-CPAS1 year Service code 15 · EIN 22-2625944	Recordkeeping	$5,400
ADP BROKER-DEALER9+ years Service code 59 · EIN 22-3319984	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$167K

$83 / participant

Recordkeeping$147K88.0%
Investment mgmt$20K12.0%

% of EOY assets

0.088%

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: MRPR
Auditor EIN: 382141969
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$109,741

$104,544+5.0%

$96,534+13.7%

$80,157+36.9%

Participation rate

58.5%

86.4%-27.9pp

76.0%-17.5pp

72.9%-14.5pp

Annual return

19.09%

21.79%-2.7pp

25.88%-6.8pp

40.39%-21.3pp

Employer contribution / active EE

$3,026

$3,527-14.2%

$2,965+2.1%

$2,977+1.6%

Participant deferral / active EE

$3,447

$6,170-44.1%

$4,851-28.9%

$5,015-31.3%

Admin fee / account holder

$97

$107-9.5%

$8,253-98.8%

$145-33.3%

Provider

Service type

Compensation

ADP BROKER-DEALER4 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$146,527

PLANTE & MORAN, PLLC6 years

Service code 15 · EIN 38-1357951

Recordkeeping

$14,600

BDG-CPAS1 year

Service code 15 · EIN 22-2625944

Recordkeeping

$5,400

ADP BROKER-DEALER9+ years

Service code 59 · EIN 22-3319984

Shareholder Servicing

HUTCHINSON CORPORATION 401(K) PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HUTCHINSON CORPORATION 401(K) PLAN & TRUST

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