Retirement plan

VT MOBILE AEROSPACE ENGINEERING, INC. 401(K) PLAN

Name: VT MOBILE AEROSPACE ENGINEERING, INC. - VT MOBILE AEROSPACE ENGINEERING, INC. 401(K) PLAN (2023) Form 5500
Creator: VT MOBILE AEROSPACE ENGINEERING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VT MOBILE AEROSPACE ENGINEERING, INC. 401(K) PLAN, VT MOBILE AEROSPACE ENGINEERING, INC.

VT MOBILE AEROSPACE ENGINEERING, INC.EIN 63-1030724Plan #001PY 2023

2100 AEROSPACE DRIVE - MOBILE, AL 36615251-438-8805stmae-engg.comLinkedIn1001-5000 employees

Prospect flagsLow assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$23.5M

+22.2% from 2022

Total participants

1,353

+22.4% from 2022

Average account balance

$17,357

-14.8% from 2022

Annual return

15.44%

+31.37 pp from 2022

Benchmarks

See 2,423 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,423 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.88M

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

1,236

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.

84.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+10.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$31

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

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
USI CONSULTING GROUP9+ years Service code 12 · EIN 06-1053228	Recordkeeping fees; Valuation (apprai...	$16,100

Plan features & details

Pension benefit codes2E2G2J2K2T3D3H

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.
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.
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

3 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$16K

$22 / participant

Recordkeeping$16K97.7%
Investment mgmt$3822.3%

% of EOY assets

0.070%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WILKINS MILLER LLC
Auditor EIN: 270355040
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,357

$99,168-82.5%

$96,576-82.0%

$74,440-76.7%

Participation rate

100.0%

80.7%+19.3pp

76.0%+24.0pp

70.7%+29.3pp

Annual return

15.44%

22.40%-7.0pp

25.87%-10.4pp

34.37%-18.9pp

Employer contribution / active EE

$1,868

$2,570-27.3%

$2,965-37.0%

$2,638-29.2%

Participant deferral / active EE

$2,611

$4,936-47.1%

$4,851-46.2%

$4,529-42.3%

Admin fee / account holder

$12

$225-94.6%

$8,253-99.9%

$348-96.5%

Provider

Service type

Compensation

USI CONSULTING GROUP9+ years

Service code 12 · EIN 06-1053228

Recordkeeping fees; Valuation (apprai...

$16,100

VT MOBILE AEROSPACE ENGINEERING, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VT MOBILE AEROSPACE ENGINEERING, INC. 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