Retirement plan

PROGRESSIVE FOUNDRY, INC. 401(K) RETIREMENT PLAN

Name: PROGRESSIVE FOUNDRY, INC. - PROGRESSIVE FOUNDRY, INC. 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: PROGRESSIVE FOUNDRY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROGRESSIVE FOUNDRY, INC. 401(K) RETIREMENT PLAN, PROGRESSIVE FOUNDRY, INC.

PROGRESSIVE FOUNDRY, INC.EIN 42-0864286Plan #003PY 2023

1518 FIRST STREET - PERRY, IA 502200338515-465-5697progressivefoundry.comLinkedIn1-10 employeesmining & metals

Other plans on this EIN

1 filing

#002Retirement-$7.0M assets

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$2.1M

+20.6% from 2022

Total participants

-7.8% from 2022

Average account balance

$22,508

+28.3% from 2022

Annual return

16.93%

+37.01 pp from 2022

Benchmarks

See 14,453 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,453 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.34M

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.

126.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$178K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2647

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$162K

$2028 / participant

Other / not subdivided$162K100.0%

% of EOY assets

7.666%

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

$22,508

$80,983-72.2%

$96,544-76.7%

$75,177-70.1%

Participation rate

100.0%

71.8%+28.2pp

76.0%+24.0pp

67.2%+32.8pp

Annual return

16.93%

27.05%-10.1pp

25.88%-8.9pp

160.75%-143.8pp

Employer contribution / active EE

$991

$2,282-56.6%

$2,966-66.6%

$2,671-62.9%

Participant deferral / active EE

$1,820

$3,929-53.7%

$4,851-62.5%

$4,126-55.9%

Admin fee / account holder

$1,726

$6,717-74.3%

$8,254-79.1%

$5,651-69.5%

PROGRESSIVE FOUNDRY, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROGRESSIVE FOUNDRY, INC. 401(K) 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