Retirement plan

FLEXASEAL ENGINEERED SEALS AND SYSTEMS, LLC 401(K) PROFIT SHARING PLAN

Name: FLEXASEAL ENGINEERED SEALS AND SYSTEMS, LLC 401(K) PROFIT SHARING PLAN - FLEXASEAL ENGINEERED SEALS AND SYSTEMS, LLC 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: FLEXASEAL ENGINEERED SEALS AND SYSTEMS, LLC 401(K) PROFIT SHARING PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FLEXASEAL ENGINEERED SEALS AND SYSTEMS, LLC 401(K) PROFIT SHARING PLAN, FLEXASEAL ENGINEERED SEALS AND SYSTEMS, LLC 401(K) PROFIT SHARING PLAN

FLEXASEAL ENGINEERED SEALS AND SYSTEMS, LLC 401(K) PROFIT SHARING PLANEIN 85-3429227Plan #001PY 2023

291 HURRICANE LANE - WILLISTON, VT 05495802-878-8307

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$10M

+9.5% from 2021

Total participants

189

+16.0% from 2021

Average account balance

$73,912

-8.4% from 2021

Annual return

19.67%

+7.86 pp from 2021

Benchmarks

See 4,138 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,138 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.52M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

141

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.

63.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.30M

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

+16.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$369

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
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY Service code 27 1585 BROADWAY · NEW YORK, NY 10036	Advisory (Plan)	$32,311
AMERICAN FUNDS3+ years Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$11,240
KITTEL BRANAGAN & SARGENT3+ years Service code 10 · EIN 03-0302296 154 N MAIN STREET · ST ALBANS, VT 05778	Accounting	$6,055

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$56K

$354 / participant

Recordkeeping$11K20.0%
Investment mgmt$32K57.4%
Contract admin$7K11.9%
Other / not subdivided$6K10.8%

% of EOY assets

0.564%

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: KITTELL BRANAGAN & SARGENT, CPA
Auditor EIN: 030302296
Audit fees: $6,055
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,912

$76,107-2.9%

$96,576-23.5%

$71,495+3.4%

Participation rate

66.0%

74.4%-8.4pp

76.0%-9.9pp

67.9%-1.9pp

Annual return

19.67%

22.81%-3.1pp

25.87%-6.2pp

28.85%-9.2pp

Employer contribution / active EE

$2,386

$2,247+6.2%

$2,965-19.5%

$2,589-7.9%

Participant deferral / active EE

$4,612

$4,218+9.3%

$4,851-4.9%

$4,291+7.5%

Admin fee / account holder

$417

$2,708-84.6%

$8,253-94.9%

$1,588-73.7%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY

Service code 27

1585 BROADWAY · NEW YORK, NY 10036

Advisory (Plan)

$32,311

AMERICAN FUNDS3+ years

Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$11,240

KITTEL BRANAGAN & SARGENT3+ years

Service code 10 · EIN 03-0302296

154 N MAIN STREET · ST ALBANS, VT 05778

Accounting

$6,055

FLEXASEAL ENGINEERED SEALS AND SYSTEMS, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FLEXASEAL ENGINEERED SEALS AND SYSTEMS, LLC 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