Retirement plan

EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC.

Name: SUMMIT PLASTICS, INC. - EMPLOYEE BENEFIT PLAN OF SUMMIT PLASTICS, INC. (2023) 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 2023

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

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$17.4M

+85.0% from 2022

Total participants

311

+37.0% from 2022

Average account balance

$79,210

+48.0% from 2022

Annual return

85.12%

-596.17 pp from 2022

Benchmarks

See 1,153 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,153 peers

Snapshot2023

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 LLC1 year Service code 15 320 PARK AVENUE · NEW YORK, NY 10022	Recordkeeping	$22,026
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ASSOCIATES INC. Service code 31 1299 OCEAN AVENUE · SANTA MONICA, CA 90401	Named fiduciary	$2,707

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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$26K

$93 / participant

Other / not subdivided$26K100.0%

% of EOY assets

0.147%

all-in expense ratio

Categories reported

0 / 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: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$79,210

$84,784-6.6%

$98,462-19.6%

$74,473+6.4%

Participation rate

67.1%

81.5%-14.4pp

75.2%-8.0pp

70.7%-3.6pp

Annual return

85.12%

20.59%+64.5pp

21.17%+64.0pp

34.36%+50.8pp

Employer contribution / active EE

$1,410

$3,364-58.1%

$3,049-53.8%

$2,638-46.6%

Participant deferral / active EE

$2,193

$5,218-58.0%

$4,738-53.7%

$4,530-51.6%

Admin fee / account holder

$117

$204-43.0%

$8,875-98.7%

$347-66.4%

Provider

Service type

Compensation

MUTUAL OF AMERICA SEC. CORP LLC1 year

Service code 15

320 PARK AVENUE · NEW YORK, NY 10022

Recordkeeping

$22,026

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ASSOCIATES INC.

Service code 31

1299 OCEAN AVENUE · SANTA MONICA, CA 90401

Named fiduciary

$2,707

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