Retirement plan

MAGNA TOOL, INC. 401(K) PROFIT SHARING PLAN

Name: MAGNA TOOL, INC. - MAGNA TOOL, INC. 401(K) PROFIT SHARING PLAN (2016) Form 5500
Creator: MAGNA TOOL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAGNA TOOL, INC. 401(K) PROFIT SHARING PLAN, MAGNA TOOL, INC.

MAGNA TOOL, INC.EIN 95-3202840Plan #001PY 2016

5594 MARKET PLACE - CYPRESS, CA 90630714-826-2500magnatoolinc.comLinkedIn11-50 employeesaviation & aerospace

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$667K

No prior year

Total participants

No prior year

Average account balance

$111,146

No prior year

Annual return

1.95%

No prior year

Benchmarks

See 21,241 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,241 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$973K

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

65.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$21K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+1.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$63849

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

3 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$11K

$1508 / participant

Other / not subdivided$11K100.0%

% of EOY assets

1.583%

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

$111,146

$88,707+25.3%

$74,184+49.8%

$273,972-59.4%

Participation rate

42.9%

79.4%-36.6pp

76.6%-33.8pp

83.0%-40.2pp

Annual return

1.95%

11.94%-10.0pp

17.74%-15.8pp

41.46%-39.5pp

Employer contribution / active EE

$563

$3,159-82.2%

$2,370-76.3%

$4,869-88.4%

Participant deferral / active EE

$3,738

$4,212-11.2%

$3,550+5.3%

$5,287-29.3%

Admin fee / account holder

$1,760

$8,717-79.8%

$5,586-68.5%

$10,133-82.6%

MAGNA TOOL, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAGNA TOOL, INC. 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