Retirement plan

CRAGIN MACHINE SHOP INC. 401(K) PROFIT SHARING PLAN

Name: CRAGIN MACHINE SHOP, INC. - CRAGIN MACHINE SHOP INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: CRAGIN MACHINE SHOP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CRAGIN MACHINE SHOP INC. 401(K) PROFIT SHARING PLAN, CRAGIN MACHINE SHOP, INC.

CRAGIN MACHINE SHOP, INC.EIN 39-1611586Plan #002PY 2022

2106 CENTRAL AVE. - SUPERIOR, WI 548807420715-392-6988craginmachine.comLinkedIn1-10 employeesmachinery

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.9M

+6.6% from 2021

Total participants

-7.1% from 2021

Average account balance

$142,787

+6.6% from 2021

Annual return

1.52%

-20.46 pp from 2021

Benchmarks

See 22,362 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,362 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.77M

Not enough data

1 years with asset history on file

Average account balance

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

$197K

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$146K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+3.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10424

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$34K

$3821 / participant

Other / not subdivided$34K100.0%

% of EOY assets

1.853%

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

$142,787

$100,811+41.6%

$86,698+64.7%

$134,545+6.1%

Participation rate

100.0%

79.0%+21.0pp

76.6%+23.4pp

81.2%+18.8pp

Annual return

1.52%

29.11%-27.6pp

35.96%-34.4pp

418.37%-416.8pp

Employer contribution / active EE

$8,660

$3,490+148.1%

$2,837+205.3%

$4,742+82.6%

Participant deferral / active EE

$3,289

$5,339-38.4%

$4,656-29.4%

$6,401-48.6%

Admin fee / account holder

$2,645

$10,926-75.8%

$7,492-64.7%

$11,431-76.9%

CRAGIN MACHINE SHOP INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CRAGIN MACHINE SHOP INC. 401(K) PROFIT SHARING 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