Retirement plan

RAPID METAL PRODUCTS, INC. SECTION 401(K) PROFIT SHARING PLAN

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

RAPID METAL PRODUCTS, INC.EIN 59-3535997Plan #001PY 2024

4257 HOLDEN ROAD - LAKELAND, FL 33811863-701-0058rapidmetalproducts.comLinkedIn1-10 employeesmechanical or industrial engineering

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

+10.3% from 2023

Total participants

0.0% from 2023

Average account balance

$96,448

+5.3% from 2023

Annual return

9.53%

-3.62 pp from 2023

Benchmarks

See 54,965 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort54,965 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.12M

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

183.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$158K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+9.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6533

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 codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$144K

$11977 / participant

Other / not subdivided$144K100.0%

% of EOY assets

6.774%

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

$96,448

$111,814-13.7%

$103,374-6.7%

$145,959-33.9%

Participation rate

100.0%

77.9%+22.1pp

74.5%+25.5pp

80.3%+19.7pp

Annual return

9.53%

24.77%-15.2pp

24.89%-15.4pp

561.95%-552.4pp

Employer contribution / active EE

$10,048

$4,214+138.5%

$3,869+159.7%

$4,661+115.6%

Participant deferral / active EE

$3,155

$5,618-43.9%

$5,058-37.6%

$6,689-52.8%

Admin fee / account holder

$6,533

$9,754-33.0%

$8,394-22.2%

$13,398-51.2%

RAPID METAL PRODUCTS, INC. SECTION 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RAPID METAL PRODUCTS, INC. SECTION 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