Retirement plan

SHEET METAL CONNECTORS, INC. 401(K) SALARY SAVINGS PLAN

Name: SHEET METAL CONNECTORS, INC. - SHEET METAL CONNECTORS, INC. 401(K) SALARY SAVINGS PLAN (2024) Form 5500
Creator: SHEET METAL CONNECTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL CONNECTORS, INC. 401(K) SALARY SAVINGS PLAN, SHEET METAL CONNECTORS, INC.

SHEET METAL CONNECTORS, INC.EIN 41-0956532Plan #001PY 2024

5850 MAIN STREET NORTHEAST - MINNEAPOLIS, MN 55432763-572-0000smcduct.comLinkedIn51-200 employeesconstruction

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$15.1M

+0.4% from 2023

Total participants

-1.0% from 2023

Average account balance

$173,748

-4.2% from 2023

Annual return

14.32%

-4.89 pp from 2023

Benchmarks

See 14,159 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,159 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.12M

Not enough data

1 years with asset history on file

Average account balance

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

$174K

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.

113.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$630K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$31279

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 codes2E2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

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

$2.7M

$35341 / participant

Other / not subdivided$3M100.0%

% of EOY assets

18.002%

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

$173,748

$86,940+99.8%

$102,434+69.6%

$80,935+114.7%

Participation rate

84.4%

72.4%+12.0pp

76.5%+7.9pp

67.7%+16.8pp

Annual return

14.32%

18.89%-4.6pp

29.46%-15.1pp

35.66%-21.3pp

Employer contribution / active EE

$4,161

$2,370+75.6%

$3,023+37.6%

$2,757+50.9%

Participant deferral / active EE

$4,018

$4,121-2.5%

$5,055-20.5%

$4,299-6.5%

Admin fee / account holder

$31,279

$8,047+288.7%

$9,462+230.6%

$6,924+351.7%

SHEET METAL CONNECTORS, INC. 401(K) SALARY SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL CONNECTORS, INC. 401(K) SALARY SAVINGS 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