Retirement plan

QUALITY MACHINE CO., INC. PROFIT SHARING PLAN

Name: QUALITY MACHINE CO INC - QUALITY MACHINE CO., INC. PROFIT SHARING PLAN (2020) Form 5500
Creator: QUALITY MACHINE CO INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, QUALITY MACHINE CO., INC. PROFIT SHARING PLAN, QUALITY MACHINE CO INC

QUALITY MACHINE CO INCEIN 55-0553009Plan #001PY 2020

PO BOX 878 63 QUALITY LANE - BRIDGEPORT, WV 263300878304-842-6229qualitymachineinc.comLinkedIn11-50 employeesmachinery

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3.3M

+4.6% from 2019

Total participants

+4.5% from 2019

Average account balance

$77,503

-0.3% from 2019

Annual return

2.42%

-1.66 pp from 2019

Benchmarks

See 14,882 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,882 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.17M

Not enough data

1 years with asset history on file

Average account balance

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

$113K

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.

88.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$179K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+10.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2887

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 codes2E2F2G2J2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

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

Expense breakdown

Schedule H Part II

Admin total

$126K

$3311 / participant

Other / not subdivided$126K100.0%

% of EOY assets

3.865%

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

$77,503

$78,425-1.2%

$95,956-19.2%

$79,858-2.9%

Participation rate

89.5%

73.5%+16.0pp

77.1%+12.4pp

69.6%+19.8pp

Annual return

2.42%

19.37%-17.0pp

91.63%-89.2pp

31.72%-29.3pp

Employer contribution / active EE

$2,099

$1,945+7.9%

$2,541-17.4%

$2,471-15.0%

Participant deferral / active EE

$2,765

$3,440-19.6%

$4,167-33.6%

$3,740-26.1%

Admin fee / account holder

$2,995

$5,622-46.7%

$6,797-55.9%

$5,306-43.5%

QUALITY MACHINE CO., INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

QUALITY MACHINE CO., INC. PROFIT SHARING 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