Retirement plan

SUMITOMO ELECTRIC GROUP 401(K) PLAN

Name: SUMITOMO ELECTRIC U.S.A. HOLDINGS INC. - SUMITOMO ELECTRIC GROUP 401(K) PLAN (2019) Form 5500
Creator: SUMITOMO ELECTRIC U.S.A. HOLDINGS INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMITOMO ELECTRIC GROUP 401(K) PLAN, SUMITOMO ELECTRIC U.S.A. HOLDINGS INC.

SUMITOMO ELECTRIC U.S.A. HOLDINGS INC.EIN 56-1646307Plan #001PY 2019

600 5TH AVENUE, 18TH FLOOR - NEW YORK, NY 10020212-490-6610LinkedIn11-50 employeesexecutive office

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$164M

+22.3% from 2018

Total participants

1,717

+1.4% from 2018

Average account balance

$96,394

+21.7% from 2018

Annual return

22.69%

+27.41 pp from 2018

Benchmarks

See 822 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort822 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$246.06M

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.

2,213

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.

85.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12.92M

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

+45.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$109

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND5+ years Service code 13 · EIN 06-1050034	Contract Administrator	$231,284
CAP FINANCIAL PARTNERS, LLC1 year Filed as: CAP FINANCIAL PARTNERS Service code 27 · EIN 26-0058143	Advisory (Plan)	$35,825
THE WAGNER LAW GROUP5+ years Filed as: WAGNER LAW GROUP Service code 29 · EIN 04-3323315	Legal	$30,000
PAGLIUCO OPALACZ & ASSOCIATES2 years Filed as: PAGLIUCO OPALACZ & ASSOCIATES, P.C. Service code 49 · EIN 75-3079509	Other Services	$23,850
SUMITOMO ELECTRIC FINANCE USA, INC3 years Service code 10 · EIN 56-1646307	Accounting	$11,090

Plan features & details

Pension benefit codes2E2F2G2S2K2T3H3D

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.
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.
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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$334K

$246 / participant

Other / not subdivided$334K100.0%

% of EOY assets

0.204%

all-in expense ratio

Categories reported

0 / 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: BORIS BENIC & ASSOCIATES LLP
Auditor EIN: 542190047
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$96,394

$105,173-8.3%

$87,104+10.7%

$77,775+23.9%

Participation rate

98.8%

85.8%+13.0pp

76.9%+22.0pp

73.2%+25.6pp

Annual return

22.69%

24.52%-1.8pp

28.19%-5.5pp

32.58%-9.9pp

Employer contribution / active EE

$3,089

$2,890+6.9%

$2,521+22.5%

$2,504+23.4%

Participant deferral / active EE

$4,894

$5,048-3.0%

$4,048+20.9%

$3,966+23.4%

Admin fee / account holder

$197

$105+88.1%

$7,491-97.4%

$100+96.5%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND5+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$231,284

CAP FINANCIAL PARTNERS, LLC1 year

Filed as: CAP FINANCIAL PARTNERS

Service code 27 · EIN 26-0058143

Advisory (Plan)

$35,825

THE WAGNER LAW GROUP5+ years

Filed as: WAGNER LAW GROUP

Service code 29 · EIN 04-3323315

Legal

$30,000

PAGLIUCO OPALACZ & ASSOCIATES2 years

Filed as: PAGLIUCO OPALACZ & ASSOCIATES, P.C.

Service code 49 · EIN 75-3079509

Other Services

$23,850

SUMITOMO ELECTRIC FINANCE USA, INC3 years

Service code 10 · EIN 56-1646307

Accounting

$11,090

SUMITOMO ELECTRIC GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMITOMO ELECTRIC GROUP 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