Retirement plan

FORMEX MANUFACTURING, INC 401(K) PLAN

Name: FORMEX MANUFACTURING, INC - FORMEX MANUFACTURING, INC 401(K) PLAN (2023) Form 5500
Creator: FORMEX MANUFACTURING, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FORMEX MANUFACTURING, INC 401(K) PLAN, FORMEX MANUFACTURING, INC

FORMEX MANUFACTURING, INCEIN 95-2124375Plan #001PY 2023

601 HURRICANE SHOALS RD NW - LAWRENCEVILLE, GA 300464412770-962-9816LinkedIn11-50 employeesplastics

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$598K

+73.0% from 2022

Total participants

-3.8% from 2022

Average account balance

$29,915

+81.6% from 2022

Annual return

31.79%

+51.15 pp from 2022

Benchmarks

See 8,682 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort8,682 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.01M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

85.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$130K

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

+15.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2130

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 codes2E2F2G2J2T3D

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.
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

1 tripped

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

$15K

$620 / participant

Other / not subdivided$15K100.0%

% of EOY assets

2.489%

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

$29,915

$118,488-74.8%

$98,462-69.6%

$139,487-78.6%

Participation rate

79.2%

77.5%+1.7pp

75.2%+4.0pp

80.3%-1.2pp

Annual return

31.79%

18.96%+12.8pp

21.17%+10.6pp

373.84%-342.1pp

Employer contribution / active EE

$2,115

$3,611-41.4%

$3,049-30.6%

$4,755-55.5%

Participant deferral / active EE

$4,212

$5,393-21.9%

$4,738-11.1%

$6,713-37.3%

Admin fee / account holder

$745

$13,868-94.6%

$8,875-91.6%

$11,407-93.5%

FORMEX MANUFACTURING, INC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FORMEX MANUFACTURING, INC 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