Retirement plan

PETERSON MANUFACTURING COMPANIES SAFE HARBOR 401(K) PLAN

Name: OLSON MANUFACTURING - PETERSON MANUFACTURING COMPANIES SAFE HARBOR 401(K) PLAN (2024) Form 5500
Creator: OLSON MANUFACTURING
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PETERSON MANUFACTURING COMPANIES SAFE HARBOR 401(K) PLAN, OLSON MANUFACTURING

OLSON MANUFACTURINGEIN 88-4187394Plan #002PY 2024

620 S BROADWAY AVENUE - ALBERT LEA, MN 56007507-373-3996

Other plans on this EIN

1 filing

#001Retirement-$1.0M assets

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$75K

+167.1% from 2023

Total participants

+80.0% from 2023

Average account balance

$9,433

+66.9% from 2023

Annual return

26.03%

+26.03 pp from 2023

Benchmarks

See 23,033 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort23,033 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$139K

Not enough data

1 years with asset history on file

Average account balance

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

$14K

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

$46K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+22.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$49

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 codes2E2J2F2G3D

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

1 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$837

$105 / participant

Other / not subdivided$837100.0%

% of EOY assets

1.109%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$9,433

$117,904-92.0%

$102,457-90.8%

$145,978-93.5%

Participation rate

87.5%

78.6%+8.9pp

76.5%+11.0pp

80.3%+7.2pp

Annual return

26.03%

31.80%-5.8pp

29.41%-3.4pp

550.52%-524.5pp

Employer contribution / active EE

$2,411

$3,613-33.3%

$3,022-20.2%

$4,662-48.3%

Participant deferral / active EE

$2,630

$5,733-54.1%

$5,054-48.0%

$6,690-60.7%

Admin fee / account holder

$105

$13,329-99.2%

$9,451-98.9%

$13,400-99.2%

PETERSON MANUFACTURING COMPANIES SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PETERSON MANUFACTURING COMPANIES SAFE HARBOR 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