Retirement plan

SIGMA ENGINEERED SOLUTIONS RETIREMENT PLAN

Name: SIGMA ELECTRIC MANUFACTURING CORPORATION - SIGMA ENGINEERED SOLUTIONS RETIREMENT PLAN (2023) Form 5500
Creator: SIGMA ELECTRIC MANUFACTURING CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SIGMA ENGINEERED SOLUTIONS RETIREMENT PLAN, SIGMA ELECTRIC MANUFACTURING CORPORATION

SIGMA ELECTRIC MANUFACTURING CORPORATIONEIN 72-0926749Plan #003PY 2023

120 SIGMA DRIVE - GARNER, NC 27529919-773-0011sigmaelectric.comLinkedIn1001-5000 employeesmechanical or industrial engineering

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$22.4M

+11.5% from 2022

Total participants

478

-14.0% from 2022

Average account balance

$69,689

+51.7% from 2022

Annual return

20.83%

+20.83 pp from 2022

Benchmarks

See 1,360 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,360 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$24.00M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

306

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.

75.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.22M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+14.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$332

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

See the 3-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$82,270
VALLEY FORGE INVESTMENT CONSULTANTS2+ years Service code 27 · EIN 23-2748550	Advisory (Plan)	$41,131
THE MANDMARBLESTONE GROUP LLC2+ years Service code 13 · EIN 20-4780677	Contract Administrator	$12,100
THE MANDMARBLSTONE GROUP LLC2+ years Service code 13	Contract Administrator	$10,219

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$94K

$234 / participant

Contract admin$94K100.0%

% of EOY assets

0.421%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: RKL LLP
Auditor EIN: 232108173
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,689

$91,372-23.7%

$129,995-46.4%

$74,419-6.4%

Participation rate

61.4%

77.8%-16.4pp

78.5%-17.1pp

70.7%-9.3pp

Annual return

20.83%

23.21%-2.4pp

-137.18%+158.0pp

34.38%-13.6pp

Employer contribution / active EE

$1,406

$2,563-45.2%

$4,320-67.5%

$2,637-46.7%

Participant deferral / active EE

$3,235

$4,721-31.5%

$5,820-44.4%

$4,528-28.6%

Admin fee / account holder

$293

$283+3.4%

$10,614-97.2%

$348-15.7%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$82,270

VALLEY FORGE INVESTMENT CONSULTANTS2+ years

Service code 27 · EIN 23-2748550

Advisory (Plan)

$41,131

THE MANDMARBLESTONE GROUP LLC2+ years

Service code 13 · EIN 20-4780677

Contract Administrator

$12,100

THE MANDMARBLSTONE GROUP LLC2+ years

Service code 13

Contract Administrator

$10,219

SIGMA ENGINEERED SOLUTIONS RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SIGMA ENGINEERED SOLUTIONS RETIREMENT 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