Retirement plan

SNAP-ON INCORPORATED 401K SAVINGS PLAN

Name: SNAP-ON INCORPORATED - SNAP-ON INCORPORATED 401K SAVINGS PLAN (2019) Form 5500
Creator: SNAP-ON INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SNAP-ON INCORPORATED 401K SAVINGS PLAN, SNAP-ON INCORPORATED

SNAP-ON INCORPORATEDEIN 39-0622040Plan #005PY 2019

2801 80TH STREET - KENOSHA, WI 53143262-656-5200snapon.comLinkedIn10001+ employeesmachinery

Other plans on this EIN

2 filings

#001Retirement-$1.08B assets #002Retirement-$177.6M assets

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$704M

+25.7% from 2018

Total participants

7,979

+7.1% from 2018

Average account balance

$95,598

+18.7% from 2018

Annual return

25.84%

+31.01 pp from 2018

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

$983.33M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

9,259

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.

94.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$50.47M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$65

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
T ROWE PRICE RPS INC5+ years Service code 15 100 EAST PRATT STREET · BALTIMORE, MD 21202	Recordkeeping	$411,175
MERCER5+ years Service code 27 PO BOX 13793 · DALLAS, TX 75373	Advisory (Plan)	$25,000
MORNINGSTAR5+ years Service code 26 22 WEST WASHINGTON STREET · CHICAGO, IL 60602	Advisory (Participants)	$21,230
WIPFLI LLP4 years Service code 10 P.O. BOX 3160 · MILWAUKEE, WI 53201	Accounting	$19,500

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3H

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.
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

1 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$471K

$77 / participant

Investment mgmt$21K4.5%
Other / not subdivided$450K95.5%

% of EOY assets

0.067%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WIPFLI LLP
Auditor EIN: 390758449
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$95,598

$117,238-18.5%

$87,103+9.8%

$82,204+16.3%

Participation rate

90.0%

87.2%+2.8pp

76.9%+13.1pp

73.4%+16.6pp

Annual return

25.84%

25.80%0pp

28.19%-2.4pp

26.31%-0.5pp

Employer contribution / active EE

$1,512

$3,535-57.2%

$2,521-40.0%

$2,707-44.1%

Participant deferral / active EE

$4,901

$5,976-18.0%

$4,049+21.1%

$4,246+15.4%

Admin fee / account holder

$64

$81-21.3%

$7,491-99.1%

$76-15.4%

Provider

Service type

Compensation

T ROWE PRICE RPS INC5+ years

Service code 15

100 EAST PRATT STREET · BALTIMORE, MD 21202

Recordkeeping

$411,175

MERCER5+ years

Service code 27

PO BOX 13793 · DALLAS, TX 75373

Advisory (Plan)

$25,000

MORNINGSTAR5+ years

Service code 26

22 WEST WASHINGTON STREET · CHICAGO, IL 60602

Advisory (Participants)

$21,230

WIPFLI LLP4 years

Service code 10

P.O. BOX 3160 · MILWAUKEE, WI 53201

Accounting

$19,500

SNAP-ON INCORPORATED 401K SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SNAP-ON INCORPORATED 401K SAVINGS 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