Retirement plan

SHEET METAL SPECIALTIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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

SHEET METAL SPECIALTIES, INC.EIN 87-0632979Plan #001PY 2024

2169 SOUTH 3200 WEST - WEST VALLEY CITY, UT 84119801-972-4745sheetmetalspecialties.comLinkedIn1-10 employeesconstruction

Prospect flagsHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$786K

+24.7% from 2023

Total participants

0.0% from 2023

Average account balance

$261,967

+24.7% from 2023

Annual return

20.52%

-9.88 pp from 2023

Benchmarks

See 22,981 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,981 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$786K

Not enough data

1 years with asset history on file

Average account balance

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

$262K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+20.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2G2J3D

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.
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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

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

$261,967

$117,846+122.3%

$102,434+155.7%

$145,884+79.6%

Participation rate

100.0%

78.6%+21.4pp

76.5%+23.5pp

80.3%+19.7pp

Annual return

20.52%

31.90%-11.4pp

29.46%-8.9pp

551.85%-531.3pp

Employer contribution / active EE

$2,620

$3,615-27.5%

$3,023-13.3%

$4,662-43.8%

Participant deferral / active EE

$6,127

$5,733+6.9%

$5,055+21.2%

$6,690-8.4%

Admin fee / account holder

$13,356-100.0%

$9,462-100.0%

$13,392-100.0%

SHEET METAL SPECIALTIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

SHEET METAL SPECIALTIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion