Retirement plan

RICHWOOD INDUSTRIES, INC. RETIREMENT & 401K PLAN

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

RICHWOOD INDUSTRIES, INC.EIN 55-0569466Plan #001PY 2023

PO BOX 1298 - HUNTINGTON, WV 257141298304-525-5436

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$15.1M

+26.4% from 2022

Total participants

306

+19.1% from 2022

Average account balance

$78,196

+19.2% from 2022

Annual return

16.11%

+33.89 pp from 2022

Benchmarks

See 205 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants250-999

Cohort205 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.48M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

190

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.

55.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.00M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$343

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 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY9+ years Filed as: JOHN HANCOCK LIFE INSURANCE Service code 15 · EIN 01-0233346	Recordkeeping	$1,342

Plan features & details

Pension benefit codes2E2F2G2J3D3H

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.
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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$56K

$203 / participant

Recordkeeping$56K100.0%

% of EOY assets

0.372%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SUTTLE & STALNAKER, PLLC
Auditor EIN: 550538163
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$78,196

$102,197-23.5%

$142,460-45.1%

$74,440+5.0%

Participation rate

59.1%

79.8%-20.8pp

76.8%-17.7pp

70.7%-11.7pp

Annual return

16.11%

19.73%-3.6pp

19.99%-3.9pp

34.37%-18.3pp

Employer contribution / active EE

$2,375

$5,052-53.0%

$4,847-51.0%

$2,638-10.0%

Participant deferral / active EE

$4,499

$6,304-28.6%

$6,283-28.4%

$4,529-0.6%

Admin fee / account holder

$291

$186+56.5%

$10,011-97.1%

$348-16.4%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY9+ years

Filed as: JOHN HANCOCK LIFE INSURANCE

Service code 15 · EIN 01-0233346

Recordkeeping

$1,342

RICHWOOD INDUSTRIES, INC. RETIREMENT & 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RICHWOOD INDUSTRIES, INC. RETIREMENT & 401K 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