Retirement plan

RJ MILLWORKERS INC 401(K)PROFIT SHARING PLAN

Name: RJ MILLWORKERS, INC - RJ MILLWORKERS INC 401(K)PROFIT SHARING PLAN (2024) Form 5500
Creator: RJ MILLWORKERS, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RJ MILLWORKERS INC 401(K)PROFIT SHARING PLAN, RJ MILLWORKERS, INC

RJ MILLWORKERS, INCEIN 82-4183205Plan #001PY 2024

12 LEWIS ST - ONEONTA, NY 138202652607-433-0525rjmillworkers.comLinkedIn11-50 employeesfurniture

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$946K

+22.6% from 2023

Total participants

+15.0% from 2023

Average account balance

$49,796

+9.7% from 2023

Annual return

12.94%

+2.59 pp from 2023

Benchmarks

See 4,452 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort4,452 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$946K

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

95.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$98K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1351

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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$26K

$1283 / participant

Other / not subdivided$26K100.0%

% of EOY assets

2.712%

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

$49,796

$100,147-50.3%

$81,286-38.7%

$145,877-65.9%

Participation rate

80.0%

74.2%+5.8pp

69.5%+10.5pp

80.3%-0.3pp

Annual return

12.94%

34.44%-21.5pp

24.80%-11.9pp

551.28%-538.3pp

Employer contribution / active EE

$1,356

$2,977-54.5%

$2,463-44.9%

$4,663-70.9%

Participant deferral / active EE

$3,545

$4,607-23.1%

$3,883-8.7%

$6,691-47.0%

Admin fee / account holder

$1,351

$8,201-83.5%

$5,764-76.6%

$13,402-89.9%

RJ MILLWORKERS INC 401(K)PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RJ MILLWORKERS INC 401(K)PROFIT SHARING 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