Retirement plan

NORTH STATE STEEL, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Name: NORTH STATE STEEL, INC. - NORTH STATE STEEL, INC. EMPLOYEE STOCK OWNERSHIP PLAN (2023) Form 5500
Creator: NORTH STATE STEEL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTH STATE STEEL, INC. EMPLOYEE STOCK OWNERSHIP PLAN, NORTH STATE STEEL, INC.

NORTH STATE STEEL, INC.EIN 56-1407405Plan #002PY 2023

P.O. BOX 5003 - GREENVILLE, NC 27835252-830-8884northstatesteel.comLinkedIn11-50 employeesconstruction

Other plans on this EIN

1 filing

#001Retirement-$7.0M assets

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$20M

+82.5% from 2022

Total participants

+5.5% from 2022

Average account balance

$259,747

+73.0% from 2022

Annual return

81.14%

-7.99 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

$22.05M

Not enough data

1 years with asset history on file

Average account balance

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

$242K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$205K

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

+9.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1583

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 codes2E2P2Q3I

Plan features

2E
Profit-sharing
Profit-sharing plan.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$87K

$1242 / participant

Other / not subdivided$87K100.0%

% of EOY assets

0.435%

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

$259,747

$80,983+220.7%

$96,544+169.0%

$75,177+245.5%

Participation rate

100.0%

71.8%+28.2pp

76.0%+24.0pp

67.2%+32.8pp

Annual return

81.14%

27.05%+54.1pp

25.88%+55.3pp

160.75%-79.6pp

Employer contribution / active EE

$2,394

$2,282+4.9%

$2,966-19.3%

$2,671-10.4%

Participant deferral / active EE

$3,929-100.0%

$4,851-100.0%

$4,126-100.0%

Admin fee / account holder

$1,129

$6,717-83.2%

$8,254-86.3%

$5,651-80.0%

NORTH STATE STEEL, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTH STATE STEEL, INC. EMPLOYEE STOCK OWNERSHIP 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