Retirement plan

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

Name: IRVING MATERIALS, INC. - IRVING MATERIALS, INC. EMPLOYEE SAVINGS 401(K) PLAN (2023) 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 2023

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

Other plans on this EIN

1 filing

#003Retirement-$194K assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$234M

+18.3% from 2022

Total participants

2,723

+7.2% from 2022

Average account balance

$87,572

+11.2% from 2022

Annual return

16.88%

+29.59 pp from 2022

Benchmarks

See 394 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort394 peers

Snapshot2023

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 3 by compensation

Provider	Service type	Compensation
MILLIMAN, INC.3+ years Filed as: MILLIMAN Service code 15 · EIN 91-0675641	Recordkeeping	$256,533
AXIA ADVISORY CORPORATION3+ years Service code 27 · EIN 35-1859469	Advisory (Plan)	$89,648
MATRIX TRUST COMPANY2 years Service code 19 · EIN 75-3182674	Securities Custodian	$29,806

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H2S

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$376K

$190 / participant

Recordkeeping$257K68.2%
Trustee / custodial$30K7.9%
Investment mgmt$90K23.8%

% of EOY assets

0.161%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,572

$104,631-16.3%

$98,462-11.1%

$80,169+9.2%

Participation rate

97.4%

87.5%+9.9pp

75.2%+22.2pp

72.9%+24.5pp

Annual return

16.88%

34.72%-17.8pp

21.17%-4.3pp

40.39%-23.5pp

Employer contribution / active EE

$4,577

$4,517+1.3%

$3,049+50.1%

$2,978+53.7%

Participant deferral / active EE

$5,489

$6,545-16.1%

$4,738+15.8%

$5,016+9.4%

Admin fee / account holder

$141

$105+34.2%

$8,875-98.4%

$145-2.9%

Provider

Service type

Compensation

MILLIMAN, INC.3+ years

Filed as: MILLIMAN

Service code 15 · EIN 91-0675641

Recordkeeping

$256,533

AXIA ADVISORY CORPORATION3+ years

Service code 27 · EIN 35-1859469

Advisory (Plan)

$89,648

MATRIX TRUST COMPANY2 years

Service code 19 · EIN 75-3182674

Securities Custodian

$29,806

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