Retirement plan

MASTER LOCK COMPANY SAVINGS PLAN FOR HOURLY PAID UNION EMPLOYEES PLAN

Name: MASTER LOCK COMPANY LLC - MASTER LOCK COMPANY SAVINGS PLAN FOR HOURLY PAID UNION EMPLOYEES PLAN (2023) Form 5500
Creator: MASTER LOCK COMPANY LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MASTER LOCK COMPANY SAVINGS PLAN FOR HOURLY PAID UNION EMPLOYEES PLAN, MASTER LOCK COMPANY LLC

MASTER LOCK COMPANY LLCEIN 39-1142433Plan #005PY 2023

137 WEST FOREST HILL AVENUE - OAK CREEK, WI 53154414-571-5625mastercom.ccLinkedIn1-10 employeesconstruction

Other plans on this EIN

2 filings

#002Retirement-$200.6M assets #003Retirement--

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$17.5M

+1.8% from 2022

Total participants

305

-22.6% from 2022

Average account balance

$58,570

+25.7% from 2022

Annual return

14.88%

+27.62 pp from 2022

Benchmarks

See 4,139 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,139 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Analytics

Total assets (EOY)

Plan-year ending balance

$209K

Not enough data

1 years with asset history on file

Average account balance

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

$26K

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$195K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$195K

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

+10.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$667

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 2 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL5 years Service code 37 · EIN 04-2647786	Loan Processing	$26,250
BDO USA, LLP4 years Filed as: BDO USA LLP Service code 10 · EIN 13-5381590	Accounting	$6,240

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3H3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$34K

$269 / participant

Recordkeeping$26K76.3%
Investment mgmt$1K3.2%
Legal$8032.3%
Other / not subdivided$6K18.1%

% of EOY assets

0.196%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: $6,240
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$58,570

$76,050-23.0%

$96,544-39.3%

$71,457-18.0%

Participation rate

95.3%

74.4%+20.9pp

76.0%+19.4pp

67.9%+27.4pp

Annual return

14.88%

22.81%-7.9pp

25.84%-11.0pp

28.85%-14.0pp

Employer contribution / active EE

$3,273

$2,244+45.8%

$2,965+10.4%

$2,588+26.5%

Participant deferral / active EE

$8,773

$4,215+108.1%

$4,851+80.9%

$4,289+104.6%

Admin fee / account holder

$115

$2,707-95.8%

$8,252-98.6%

$1,587-92.8%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL5 years

Service code 37 · EIN 04-2647786

Loan Processing

$26,250

BDO USA, LLP4 years

Filed as: BDO USA LLP

Service code 10 · EIN 13-5381590

Accounting

$6,240

MASTER LOCK COMPANY SAVINGS PLAN FOR HOURLY PAID UNION EMPLOYEES PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MASTER LOCK COMPANY SAVINGS PLAN FOR HOURLY PAID UNION EMPLOYEES 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