Retirement plan

INDUSTRIAL WELDERS & MACHINISTS, INC. UNION PLAN

Name: INDUSTRIAL WELDERS & MACHINISTS, INC. - INDUSTRIAL WELDERS & MACHINISTS, INC. UNION PLAN (2020) Form 5500
Creator: INDUSTRIAL WELDERS & MACHINISTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INDUSTRIAL WELDERS & MACHINISTS, INC. UNION PLAN, INDUSTRIAL WELDERS & MACHINISTS, INC.

INDUSTRIAL WELDERS & MACHINISTS, INC.EIN 41-0812421Plan #002PY 2020

3902 ONEOTA STREET - DULUTH, MN 55816218-628-1011iwmweb.comLinkedIn1-10 employeesmining & metals

Other plans on this EIN

1 filing

#001Retirement-$3.9M assets

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$38K

No prior year

Total participants

No prior year

Average account balance

$4,259

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 36,192 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort36,192 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$294K

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$49K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+21.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$44

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

1 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$17

$2 / participant

Other / not subdivided$17100.0%

% of EOY assets

0.044%

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

$4,259

$100,938-95.8%

$90,461-95.3%

$158,982-97.3%

Participation rate

81.8%

75.0%+6.8pp

72.7%+9.1pp

82.0%-0.1pp

Annual return

0.00%

1727.20%-1727.2pp

1294.76%-1294.8pp

302.99%-303.0pp

Employer contribution / active EE

$877

$3,691-76.2%

$3,264-73.1%

$4,763-81.6%

Participant deferral / active EE

$2,295

$4,350-47.2%

$3,964-42.1%

$5,983-61.6%

Admin fee / account holder

$6,510-100.0%

$5,617-100.0%

$11,252-100.0%

INDUSTRIAL WELDERS & MACHINISTS, INC. UNION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INDUSTRIAL WELDERS & MACHINISTS, INC. UNION 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