Retirement plan

STAR IRON WORKS, INC. 401(K) SAVINGS PLAN

Name: STAR IRON WORKS, INC. - STAR IRON WORKS, INC. 401(K) SAVINGS PLAN (2024) Form 5500
Creator: STAR IRON WORKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STAR IRON WORKS, INC. 401(K) SAVINGS PLAN, STAR IRON WORKS, INC.

STAR IRON WORKS, INC.EIN 76-0655528Plan #002PY 2024

257 CAROLINE ST - PUNXSUTAWNEY, PA 157674276814-427-2555starironworks.comLinkedIn51-200 employeesmechanical or industrial engineering

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$8M

+5.6% from 2023

Total participants

+7.7% from 2023

Average account balance

$114,564

-1.9% from 2023

Annual return

9.93%

-6.31 pp from 2023

Benchmarks

See 14,172 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,172 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.21M

Not enough data

1 years with asset history on file

Average account balance

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

$130K

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.

123.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$352K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$17457

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 codes2E2F2G2J2T3D

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.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$685K

$12917 / participant

Other / not subdivided$685K100.0%

% of EOY assets

8.537%

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

$114,564

$86,919+31.8%

$102,457+11.8%

$80,911+41.6%

Participation rate

100.0%

72.4%+27.6pp

76.5%+23.5pp

67.6%+32.4pp

Annual return

9.93%

18.90%-9.0pp

29.41%-19.5pp

35.63%-25.7pp

Employer contribution / active EE

$1,977

$2,368-16.5%

$3,022-34.6%

$2,756-28.3%

Participant deferral / active EE

$4,753

$4,119+15.4%

$5,054-6.0%

$4,297+10.6%

Admin fee / account holder

$9,780

$8,049+21.5%

$9,451+3.5%

$6,935+41.0%

STAR IRON WORKS, INC. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STAR IRON WORKS, INC. 401(K) SAVINGS 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