Retirement plan

IRVING MATERIALS, INC. EMPLOYEE SAVINGS 401(K) PLAN

Name: IRVING MATERIALS, INC. - IRVING MATERIALS, INC. EMPLOYEE SAVINGS 401(K) PLAN (2021) Form 5500
Creator: IRVING MATERIALS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IRVING MATERIALS, INC. EMPLOYEE SAVINGS 401(K) PLAN, IRVING MATERIALS, INC.

IRVING MATERIALS, INC.EIN 84-3316965Plan #002PY 2021

8032 NORTH STATE ROAD 9 - GREENFIELD, IN 46140317-326-3101irvmat.comLinkedIn1001-5000 employeesbuilding materials

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$231.1M

No prior year

Total participants

2,674

No prior year

Average account balance

$93,604

No prior year

Annual return

10.80%

No prior year

Benchmarks

See 394 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort394 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$253.30M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

2,575

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.

92.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$21.88M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+9.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$168

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
MILLIMAN, INC.1+ years Filed as: MILLIMAN Service code 15 · EIN 91-0675641	Recordkeeping	$232,422
AXIA ADVISORY CORPORATION1+ years Service code 27 · EIN 35-1859469	Advisory (Plan)	$123,915

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$356K

$183 / participant

Other / not subdivided$356K100.0%

% of EOY assets

0.154%

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: FORVIS LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$93,604

$114,195-18.0%

$106,555-12.2%

$93,010+0.6%

Participation rate

89.5%

86.4%+3.1pp

76.1%+13.3pp

73.9%+15.6pp

Annual return

10.80%

22.18%-11.4pp

26.80%-16.0pp

158.70%-147.9pp

Employer contribution / active EE

$3,656

$4,009-8.8%

$2,819+29.7%

$2,705+35.2%

Participant deferral / active EE

$4,174

$5,908-29.3%

$4,399-5.1%

$4,561-8.5%

Admin fee / account holder

$144

$105+37.8%

$7,408-98.1%

$152-4.8%

Provider

Service type

Compensation

MILLIMAN, INC.1+ years

Filed as: MILLIMAN

Service code 15 · EIN 91-0675641

Recordkeeping

$232,422

AXIA ADVISORY CORPORATION1+ years

Service code 27 · EIN 35-1859469

Advisory (Plan)

$123,915

IRVING MATERIALS, INC. EMPLOYEE SAVINGS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IRVING MATERIALS, INC. EMPLOYEE SAVINGS 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