Retirement plan

SEARS MANUFACTURING CO. SALARIED RETIREMENT PLAN

Name: SEARS MANUFACTURING CO. - SEARS MANUFACTURING CO. SALARIED RETIREMENT PLAN (2024) Form 5500
Creator: SEARS MANUFACTURING CO.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEARS MANUFACTURING CO. SALARIED RETIREMENT PLAN, SEARS MANUFACTURING CO.

SEARS MANUFACTURING CO.EIN 42-0712643Plan #004PY 2024

1718 S. CONCORD STREET - DAVENPORT, IA 52808563-383-2892

Other plans on this EIN

2 filings

#002Retirement-$14.9M assets #005Retirement-$14.6M assets

Prospect flagsHigh cashFailed to provide benefit

How to read this page

Total assets (EOY)

$30.4M

+3.8% from 2023

Total participants

219

-2.2% from 2023

Average account balance

$139,261

-0.5% from 2023

Annual return

13.60%

-2.66 pp from 2023

Benchmarks

See 4,099 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,099 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$30.36M

Not enough data

1 years with asset history on file

Average account balance

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

$139K

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.

218

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.

99.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.27M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+13.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY10+ years Service code 55 · EIN 26-4310632	Other Commissions	$74,284
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 60 · EIN 04-2647786	Sub-TA Fees	-$22,599

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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 cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BT&CO., P.A.
Auditor EIN: 481066439
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$139,261

$79,223+75.8%

$102,460+35.9%

$74,478+87.0%

Participation rate

99.4%

74.8%+24.7pp

76.5%+22.9pp

67.2%+32.2pp

Annual return

13.60%

54.98%-41.4pp

29.47%-15.9pp

1370.56%-1357.0pp

Employer contribution / active EE

$3,506

$2,363+48.4%

$3,025+15.9%

$2,626+33.5%

Participant deferral / active EE

$9,828

$4,417+122.5%

$5,056+94.4%

$4,350+125.9%

Admin fee / account holder

$2,003-100.0%

$9,460-100.0%

$1,946-100.0%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY10+ years

Service code 55 · EIN 26-4310632

Other Commissions

$74,284

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 60 · EIN 04-2647786

Sub-TA Fees

-$22,599

SEARS MANUFACTURING CO. SALARIED RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEARS MANUFACTURING CO. SALARIED RETIREMENT 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