Retirement plan

CHALLENGE MFG. COMPANY PROFIT SHARING AND RETIREMENT SAVINGS PLAN

Name: CHALLENGE MFG. HOLDINGS - CHALLENGE MFG. COMPANY PROFIT SHARING AND RETIREMENT SAVINGS PLAN (2018) Form 5500
Creator: CHALLENGE MFG. HOLDINGS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHALLENGE MFG. COMPANY PROFIT SHARING AND RETIREMENT SAVINGS PLAN, CHALLENGE MFG. HOLDINGS

CHALLENGE MFG. HOLDINGSEIN 46-4294293Plan #001PY 2018

3200 FRUIT RIDGE AVE NW - WALKER, MI 495449707616-735-6557LinkedIn1001-5000 employeeselectrical/electronic manufacturing

Other plans on this EIN

1 filing

#002Retirement-$14.8M assets

Prospect flagsLow returnsLow assets / participantLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$34.1M

+8.5% from 2017

Total participants

2,233

-1.6% from 2017

Average account balance

$16,554

+7.6% from 2017

Annual return

-6.64%

-27.40 pp from 2017

Benchmarks

See 831 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort831 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$90.89M

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.

3,236

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.

94.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$16.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+15.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$144

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 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290	Contract Administrator	$132,539
MORGAN STANLEY SMITH BARNEY4+ years Filed as: MORGAN STANLEY DW INC Service code 49 · EIN 94-1671384	Other Services	$41,103
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY Service code 27 · EIN 02-6431084	Advisory (Plan)	$14,414
WILSHIRE ASSOCIATES INCORPORATED4+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3F

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

4 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$133K

$66 / participant

Contract admin$133K100.0%

% of EOY assets

0.389%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$16,554

$78,852-79.0%

$76,767-78.4%

$75,289-78.0%

Participation rate

91.4%

85.0%+6.4pp

77.0%+14.4pp

72.4%+18.9pp

Annual return

-6.64%

-1.29%-5.4pp

2.43%-9.1pp

-0.04%-6.6pp

Employer contribution / active EE

$1,553

$2,794-44.4%

$2,485-37.5%

$2,405-35.4%

Participant deferral / active EE

$2,413

$4,800-49.7%

$3,852-37.4%

$3,739-35.5%

Admin fee / account holder

$64

$79-18.5%

$6,675-99.0%

$102-37.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$132,539

MORGAN STANLEY SMITH BARNEY4+ years

Filed as: MORGAN STANLEY DW INC

Service code 49 · EIN 94-1671384

Other Services

$41,103

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY

Service code 27 · EIN 02-6431084

Advisory (Plan)

$14,414

WILSHIRE ASSOCIATES INCORPORATED4+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

CHALLENGE MFG. COMPANY PROFIT SHARING AND RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHALLENGE MFG. COMPANY PROFIT SHARING AND RETIREMENT 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