Retirement plan

NIMS 401(K) PLAN

Name: THE NATIONAL INSTITUTE FOR METALWORKING SKILLS (NIMS) - NIMS 401(K) PLAN (2021) Form 5500
Creator: THE NATIONAL INSTITUTE FOR METALWORKING SKILLS (NIMS)
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NIMS 401(K) PLAN, THE NATIONAL INSTITUTE FOR METALWORKING SKILLS (NIMS)

THE NATIONAL INSTITUTE FOR METALWORKING SKILLS (NIMS)EIN 52-1933455Plan #001PY 2021

10565 FAIRFAX BLVD., SUITE 10 - FAIRFAX, VA 22030703-352-4971

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$578K

+45.7% from 2020

Total participants

-7.7% from 2020

Average account balance

$52,543

+32.5% from 2020

Annual return

19.95%

+19.95 pp from 2020

Benchmarks

See 6,475 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort6,475 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$888K

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

114.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$104K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+16.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6441

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 codes2E2F2G2J2T3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$5K

$665 / participant

Other / not subdivided$5K100.0%

% of EOY assets

0.805%

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

$52,543

$84,713-38.0%

$75,717-30.6%

$167,518-68.6%

Participation rate

85.7%

77.8%+7.9pp

74.8%+10.9pp

82.1%+3.6pp

Annual return

19.95%

199.49%-179.5pp

104.58%-84.6pp

478.71%-458.8pp

Employer contribution / active EE

$4,101

$3,229+27.0%

$2,743+49.5%

$4,838-15.2%

Participant deferral / active EE

$10,507

$4,578+129.5%

$3,821+175.0%

$6,342+65.7%

Admin fee / account holder

$423

$5,357-92.1%

$3,619-88.3%

$12,312-96.6%

NIMS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NIMS 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