Retirement plan

STURGEON BAY METAL PRODUCTS, INC. 401(K) PROFIT SHARING PLAN & TRUST

Name: STURGEON BAY METAL PRODUCTS, INC - STURGEON BAY METAL PRODUCTS, INC. 401(K) PROFIT SHARING PLAN & TRUST (2023) Form 5500
Creator: STURGEON BAY METAL PRODUCTS, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STURGEON BAY METAL PRODUCTS, INC. 401(K) PROFIT SHARING PLAN & TRUST, STURGEON BAY METAL PRODUCTS, INC

STURGEON BAY METAL PRODUCTS, INCEIN 39-0885600Plan #002PY 2023

1018 GREEN BAY ROAD - STURGEON BAY, WI 542353815920-743-2221sturgeonbaymetalproducts.comLinkedIn11-50 employeesbuilding materials

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$1.3M

+10.8% from 2022

Total participants

+25.0% from 2022

Average account balance

$104,598

+1.5% from 2022

Annual return

11.09%

+24.52 pp from 2022

Benchmarks

See 22,632 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,632 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.52M

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.

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.

71.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$30K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+20.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2709

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

2 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.)

Expense breakdown

Schedule H Part II

Admin total

$36K

$2581 / participant

Other / not subdivided$36K100.0%

% of EOY assets

2.878%

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

$104,598

$110,240-5.1%

$96,544+8.3%

$139,487-25.0%

Participation rate

78.6%

78.1%+0.4pp

76.0%+2.6pp

80.3%-1.8pp

Annual return

11.09%

26.41%-15.3pp

25.88%-14.8pp

373.84%-362.8pp

Employer contribution / active EE

$3,622-100.0%

$2,966-100.0%

$4,755-100.0%

Participant deferral / active EE

$2,011

$5,549-63.8%

$4,851-58.5%

$6,713-70.0%

Admin fee / account holder

$3,011

$11,602-74.1%

$8,254-63.5%

$11,407-73.6%

STURGEON BAY METAL PRODUCTS, INC. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STURGEON BAY METAL PRODUCTS, INC. 401(K) PROFIT SHARING 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