Retirement plan

EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC.

Name: SUMMIT PLASTICS, INC. - EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC. (2022) 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 2022

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

Prospect flagsLow participant contributionRecently reached 100 employees

How to read this page

Total assets (EOY)

$9.4M

+704.7% from 2021

Total participants

227

+122.5% from 2021

Average account balance

$53,532

+279.5% from 2021

Annual return

681.29%

+665.80 pp from 2021

Benchmarks

See 1,871 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,871 peers

Snapshot2022

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

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$38K

$185 / participant

Other / not subdivided$38K100.0%

% of EOY assets

0.399%

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

$53,532

$72,639-26.3%

$90,766-41.0%

$66,949-20.0%

Participation rate

74.9%

73.7%+1.2pp

75.7%-0.8pp

69.8%+5.1pp

Annual return

681.29%

-12.28%+693.6pp

-12.16%+693.4pp

1.57%+679.7pp

Employer contribution / active EE

$642

$2,369-72.9%

$2,922-78.0%

$2,545-74.8%

Participant deferral / active EE

$892

$3,979-77.6%

$4,565-80.5%

$4,239-79.0%

Admin fee / account holder

$214

$708-69.8%

$8,446-97.5%

$594-64.0%

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