Retirement plan

EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC.

Name: SUMMIT PLASTICS, INC. - EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC. (2024) Form 5500
Creator: SUMMIT PLASTICS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC., SUMMIT PLASTICS, INC.

SUMMIT PLASTICS, INC.EIN 64-0850117Plan #002PY 2024

107 S LAUREL ST - SUMMIT, MS 39666601-276-7500LinkedIn51-200 employeesplastics

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$19.1M

+9.8% from 2023

Total participants

319

+2.6% from 2023

Average account balance

$88,618

+11.9% from 2023

Annual return

12.80%

-72.32 pp from 2023

Benchmarks

See 1,161 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,161 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.14M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

216

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.

62.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.23M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$402

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 2 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA SEC. CORP LLC2 years Service code 15 320 PARK AVENUE · NEW YORK, NY 10022	Recordkeeping	$77,751
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ASSOCIATES INC. Service code 31 1299 OCEAN AVENUE · SANTA MONICA, CA 90401	Named fiduciary	$9,104

Plan features & details

Pension benefit codes2G2F2S2T3D

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.
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.

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

$87K

$315 / participant

Recordkeeping$78K89.5%
Investment mgmt$9K10.5%

% of EOY assets

0.454%

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: HORNE LLP
Auditor EIN: 201941244
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$88,618

$92,121-3.8%

$105,591-16.1%

$77,692+14.1%

Participation rate

62.7%

81.0%-18.3pp

75.3%-12.6pp

70.6%-7.9pp

Annual return

12.80%

17.84%-5.0pp

116.43%-103.6pp

31.25%-18.4pp

Employer contribution / active EE

$1,791

$3,370-46.9%

$3,166-43.4%

$2,726-34.3%

Participant deferral / active EE

$2,675

$5,388-50.4%

$5,008-46.6%

$4,648-42.4%

Admin fee / account holder

$402

$219+83.4%

$11,024-96.4%

$431-6.6%

Provider

Service type

Compensation

MUTUAL OF AMERICA SEC. CORP LLC2 years

Service code 15

320 PARK AVENUE · NEW YORK, NY 10022

Recordkeeping

$77,751

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ASSOCIATES INC.

Service code 31

1299 OCEAN AVENUE · SANTA MONICA, CA 90401

Named fiduciary

$9,104

EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC.

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