Retirement plan

PRAXIS PACKAGING 401(K) PLAN

Name: PRAXIS HOLDING, LLC - PRAXIS PACKAGING 401(K) PLAN (2023) Form 5500
Creator: PRAXIS HOLDING, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRAXIS PACKAGING 401(K) PLAN, PRAXIS HOLDING, LLC

PRAXIS HOLDING, LLCEIN 88-3355641Plan #001PY 2023

7650 CATERPILLAR COURT SW, SUITE D - GRAND RAPIDS, MI 49548616-827-8525

Prospect flagsLow returnsLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$4.7M

+4.6% from 2022

Total participants

709

-27.2% from 2022

Average account balance

$8,134

+47.5% from 2022

Annual return

14.33%

+14.33 pp from 2022

Benchmarks

See 820 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort820 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.71M

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

534

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.

79.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.28M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+10.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$101

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
TRANSAMERICA RETIREMENT SOLUTIONS2+ years Service code 12 · EIN 13-3689044	Float revenue; Shareholder servicing ...	$25,736
NFP RETIREMENT INC1 year Filed as: NFP RETIREMENT, INC. Service code 27 · EIN 33-0905143	Advisory (Plan)	$19,552
NATIONAL FINANCIAL SERVICES2+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2F2G2J2K2S2T

Plan features

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.
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.

Opportunity flags

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$45K

$70 / participant

Recordkeeping$26K56.8%
Investment mgmt$20K43.2%

% of EOY assets

0.960%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KRUGGEL LAWTON & COMPANY, LLC
Auditor EIN: 351307701
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$8,134

$40,435-79.9%

$80,648-89.9%

$74,473-89.1%

Participation rate

79.9%

47.4%+32.6pp

67.0%+12.9pp

70.7%+9.2pp

Annual return

14.33%

165.22%-150.9pp

937.21%-922.9pp

34.36%-20.0pp

Employer contribution / active EE

$1,498-100.0%

$2,724-100.0%

$2,638-100.0%

Participant deferral / active EE

$694

$2,673-74.0%

$4,443-84.4%

$4,530-84.7%

Admin fee / account holder

$78

$721-89.2%

$5,382-98.5%

$347-77.5%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2+ years

Service code 12 · EIN 13-3689044

Float revenue; Shareholder servicing ...

$25,736

NFP RETIREMENT INC1 year

Filed as: NFP RETIREMENT, INC.

Service code 27 · EIN 33-0905143

Advisory (Plan)

$19,552

NATIONAL FINANCIAL SERVICES2+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

PRAXIS PACKAGING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRAXIS PACKAGING 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