Retirement plan

BLASTEC INC. 401(K) PROFIT SHARING PLAN

Name: BLASTEC, INC. - BLASTEC INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: BLASTEC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BLASTEC INC. 401(K) PROFIT SHARING PLAN, BLASTEC, INC.

BLASTEC, INC.EIN 58-1300524Plan #001PY 2023

4965 ATLANTA HIGHWAY - ALPHARETTA, GA 30004770-475-2700blastec.comLinkedIn11-50 employeesmachinery

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$1.7M

+18.5% from 2022

Total participants

-3.4% from 2022

Average account balance

$99,960

+18.5% from 2022

Annual return

15.96%

+30.67 pp from 2022

Benchmarks

See 22,651 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,651 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.89M

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.

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.

60.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$88K

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

+12.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6352

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 codes2E2F2G2J2T3D

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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$55K

$2300 / participant

Other / not subdivided$55K100.0%

% of EOY assets

3.248%

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

$99,960

$110,307-9.4%

$96,576+3.5%

$139,456-28.3%

Participation rate

54.2%

78.1%-23.9pp

76.0%-21.8pp

80.3%-26.2pp

Annual return

15.96%

26.40%-10.4pp

25.87%-9.9pp

373.45%-357.5pp

Employer contribution / active EE

$1,452

$3,619-59.9%

$2,965-51.0%

$4,753-69.4%

Participant deferral / active EE

$2,201

$5,547-60.3%

$4,851-54.6%

$6,711-67.2%

Admin fee / account holder

$3,246

$11,597-72.0%

$8,253-60.7%

$11,407-71.5%

BLASTEC INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BLASTEC 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