Retirement plan

ABSOLUTE CNC AND SOURCING 401(K) PLAN

Name: RAPID CLAMP INC. DBA ABSOLUTE SOURCING & ABSOLUTE CNC SOURCING - ABSOLUTE CNC AND SOURCING 401(K) PLAN (2022) Form 5500
Creator: RAPID CLAMP INC. DBA ABSOLUTE SOURCING & ABSOLUTE CNC SOURCING
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ABSOLUTE CNC AND SOURCING 401(K) PLAN, RAPID CLAMP INC. DBA ABSOLUTE SOURCING & ABSOLUTE CNC SOURCING

RAPID CLAMP INC. DBA ABSOLUTE SOURCING & ABSOLUTE CNC SOURCINGEIN 41-1949348Plan #001PY 2022

14075 PROSPERTY AVE - BECKER, MN 553088830763-261-2090

Prospect flagsLow returnsLow assets / participant

How to read this page

Total assets (EOY)

$41K

+4595.8% from 2021

Total participants

+16.7% from 2021

Average account balance

$8,199

+4595.8% from 2021

Annual return

-216.27%

-216.27 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

$168K

Not enough data

1 years with asset history on file

Average account balance

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

$28K

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.

85.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$63K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+10.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$545

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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$204

$29 / participant

Other / not subdivided$204100.0%

% of EOY assets

0.498%

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

$8,199

$100,811-91.9%

$86,698-90.5%

$134,545-93.9%

Participation rate

71.4%

79.0%-7.5pp

76.6%-5.2pp

81.2%-9.8pp

Annual return

-216.27%

29.11%-245.4pp

35.96%-252.2pp

418.37%-634.6pp

Employer contribution / active EE

$1,769

$3,490-49.3%

$2,837-37.6%

$4,742-62.7%

Participant deferral / active EE

$4,232

$5,339-20.7%

$4,656-9.1%

$6,401-33.9%

Admin fee / account holder

$41

$10,926-99.6%

$7,492-99.5%

$11,431-99.6%

ABSOLUTE CNC AND SOURCING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ABSOLUTE CNC AND SOURCING 401(K) 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