Retirement plan

SHANK POWER PRODUCTS CO., INC. 401(K) PROFIT SHARING PLAN

Name: SHANK POWER PRODUCTS CO., INC. - SHANK POWER PRODUCTS CO., INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: SHANK POWER PRODUCTS CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHANK POWER PRODUCTS CO., INC. 401(K) PROFIT SHARING PLAN, SHANK POWER PRODUCTS CO., INC.

SHANK POWER PRODUCTS CO., INC.EIN 41-0826384Plan #002PY 2023

1540 HUMBOLDT AVENUE #102 - WEST ST. PAUL, MN 55118651-455-1241shankpower.comLinkedIn1-10 employeesbusiness supplies and equipment

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$2.2M

-12.4% from 2022

Total participants

+20.0% from 2022

Average account balance

$363,932

-27.0% from 2022

Annual return

9.42%

+29.46 pp from 2022

Benchmarks

See 23,814 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,814 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.42M

Not enough data

1 years with asset history on file

Average account balance

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

$403K

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.

120.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$245K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$49K

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

+9.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$40936

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$819K

$163707 / participant

Other / not subdivided$819K100.0%

% of EOY assets

37.486%

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

$363,932

$154,193+136.0%

$130,045+179.9%

$139,466+160.9%

Participation rate

100.0%

82.0%+18.0pp

78.5%+21.5pp

80.3%+19.7pp

Annual return

9.42%

32.51%-23.1pp

-137.30%+146.7pp

373.66%-364.2pp

Employer contribution / active EE

$32,396

$5,292+512.2%

$4,321+649.7%

$4,754+581.5%

Participant deferral / active EE

$18,530

$6,709+176.2%

$5,820+218.4%

$6,712+176.1%

Admin fee / account holder

$136,423

$13,989+875.2%

$10,600+1187.0%

$11,409+1095.8%

SHANK POWER PRODUCTS CO., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHANK POWER PRODUCTS CO., 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