Retirement plan

MATRIX MACHINING TECHNOLOGIES 401(K) PLAN

Name: MATRIX MACHINING TECHNOLOGIES, INC. - MATRIX MACHINING TECHNOLOGIES 401(K) PLAN (2023) Form 5500
Creator: MATRIX MACHINING TECHNOLOGIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MATRIX MACHINING TECHNOLOGIES 401(K) PLAN, MATRIX MACHINING TECHNOLOGIES, INC.

MATRIX MACHINING TECHNOLOGIES, INC.EIN 68-0498558Plan #001PY 2023

2855 DIRECTORS ROW - MEMPHIS, TN 38131901-345-0797matrixmachiningmemphis.comLinkedIn11-50 employeesmedical devices

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.1M

+18.8% from 2022

Total participants

-3.1% from 2022

Average account balance

$44,599

+18.8% from 2022

Annual return

12.28%

+26.96 pp from 2022

Benchmarks

See 22,632 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,632 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.26M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

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.

104.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$67K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+8.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$488

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

0 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 codes2E2F2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.
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

1 tripped

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

$31K

$1361 / participant

Other / not subdivided$31K100.0%

% of EOY assets

2.808%

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

$44,599

$110,240-59.5%

$96,544-53.8%

$139,487-68.0%

Participation rate

73.9%

78.1%-4.2pp

76.0%-2.1pp

80.3%-6.4pp

Annual return

12.28%

26.41%-14.1pp

25.88%-13.6pp

373.84%-361.6pp

Employer contribution / active EE

$1,780

$3,622-50.8%

$2,966-40.0%

$4,755-62.6%

Participant deferral / active EE

$2,213

$5,549-60.1%

$4,851-54.4%

$6,713-67.0%

Admin fee / account holder

$1,252

$11,602-89.2%

$8,254-84.8%

$11,407-89.0%

MATRIX MACHINING TECHNOLOGIES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MATRIX MACHINING TECHNOLOGIES 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