Retirement plan

DIAMONDBACK PRODUCTS, INC. 401(K) PROFIT SHARING PLAN

Name: DIAMONDBACK PRODUCTS, INC. - DIAMONDBACK PRODUCTS, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: DIAMONDBACK PRODUCTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DIAMONDBACK PRODUCTS, INC. 401(K) PROFIT SHARING PLAN, DIAMONDBACK PRODUCTS, INC.

DIAMONDBACK PRODUCTS, INC.EIN 56-2069940Plan #001PY 2024

P.O. BOX 2235 - WELCOME, NC 27374336-236-98003rdman.comLinkedIn11-50 employeesmachinery

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+45.7% from 2023

Total participants

0.0% from 2023

Average account balance

$70,116

+36.0% from 2023

Annual return

25.38%

-6.05 pp from 2023

Benchmarks

See 23,033 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort23,033 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.05M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

93.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$147K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+25.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12

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 codes2F2G2J2T3D3H

Plan features

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

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

$185

$12 / participant

Other / not subdivided$185100.0%

% of EOY assets

0.018%

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

$70,116

$117,904-40.5%

$102,457-31.6%

$145,978-52.0%

Participation rate

56.3%

78.6%-22.4pp

76.5%-20.2pp

80.3%-24.0pp

Annual return

25.38%

31.80%-6.4pp

29.41%-4.0pp

550.52%-525.1pp

Employer contribution / active EE

$2,451

$3,613-32.2%

$3,022-18.9%

$4,662-47.4%

Participant deferral / active EE

$6,715

$5,733+17.1%

$5,054+32.8%

$6,690+0.4%

Admin fee / account holder

$12

$13,329-99.9%

$9,451-99.9%

$13,400-99.9%

DIAMONDBACK PRODUCTS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DIAMONDBACK PRODUCTS, INC. 401(K) 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