Retirement plan

EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC.

Name: SUMMIT PLASTICS, INC. - EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC. (2021) 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 2021

107 S LAUREL ST - SUMMIT, MS 396669349601-276-7500LinkedIn51-200 employeesplastics

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$1.2M

+19.0% from 2020

Total participants

102

+13.3% from 2020

Average account balance

$14,106

-1.1% from 2020

Annual return

15.50%

+0.55 pp from 2020

Benchmarks

See 5,668 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort5,668 peers

Snapshot2021

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

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 codes2F2G2S2T3D

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$217K

$2440 / participant

Other / not subdivided$217K100.0%

% of EOY assets

18.547%

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

$14,106

$87,733-83.9%

$106,554-86.8%

$85,851-83.6%

Participation rate

78.7%

71.9%+6.7pp

76.1%+2.5pp

69.3%+9.3pp

Annual return

15.50%

21.86%-6.4pp

26.80%-11.3pp

318.63%-303.1pp

Employer contribution / active EE

$1,056

$2,073-49.0%

$2,819-62.5%

$2,565-58.8%

Participant deferral / active EE

$1,755

$3,469-49.4%

$4,398-60.1%

$3,952-55.6%

Admin fee / account holder

$2,616

$6,767-61.3%

$7,408-64.7%

$6,261-58.2%

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