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Benchmarking Jackson Iron & Metal Company, Inc. Profit Sharing 401(K) Plan in Jackson, MS against
good (1)
neutral (6)
Jackson Iron & Metal Company, Inc. Profit Sharing 401(K) Plan in Jackson, MS has the 8th-least participant loans as a percentage of plan assets (0.37%) among the 48 plans whose industry group is Nonferrous Metal (except Aluminum) Production and Processing. That 0.37% compares to an average of 1.66% across those 48 plans.
Beating the average of 1.66% means a savings of $185,026 in participant loans.
Note: participant loans as a percentage of plan assets =
(100 * participant loans) ÷ total assets
Jackson Iron & Metal Company, Inc. Profit Sharing 401(K) Plan has these standings among those 48 peer plans:
Beating the average of 1.66% means a savings of $185,026 in participant loans.
Note: participant loans as a percentage of plan assets =
(100 * participant loans) ÷ total assets
Jackson Iron & Metal Company, Inc. Profit Sharing 401(K) Plan has these standings among those 48 peer plans:
- participant loans as a percentage of plan assets = 0.37% (8th-least)
- participant loans = $52,792 (8th-least)
- total assets = $14,353,531 (13th-least)
- whose industry group is. The industry group is the first four digits from the six-digit NAICS business code, Line 2d in Form 5500, which best describes the nature of the plan sponsor’s business, from the available list. If more than one employer or employee organization is involved, filers are asked to enter the business code for the main business activity of the employer and/or employee organizations. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- participant loans as a percentage of plan assets. Lower values are better. Participant loans as a percentage of plan assets equals participant loans, Line 1c(8) from Schedule H, divided by total assets, Line 1f(b) from Schedule H, times 100. A high value may indicate excessive borrowing from participants' retirement accounts. To qualify for participant loans as a percentage of plan assets, the number of total assets must be at least $50,000. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
Jackson Iron & Metal Company, Inc. Profit Sharing 401(K) Plan in Jackson, MS is in Mississippi, its EIN is 640591540, its industry group is Nonferrous Metal (except Aluminum) Production and Processing, is a profit-sharing plan, covered by a fidelity bond, an ERISA section 404(c) plan, self-administered by the plan sponsor, is a single-employer plan, its business code is 331400, has 100 to 499 total participants, and is worse than the overall participant averages in each of net income per total participant, average account balance, active-participant contributions per head, and employer contributions per active participant (4 total).
Global References
Numeric values:
- net assets (assets minus liabilities) ($14.40M)
- total assets ($14,353,531)
- value of interest in registered investment companies (e.g., mutual funds) ($13.30M)
- total assets at beginning of plan year ($12,628,042)
- total income ($2,272,427)
- net income ($1,725,489)
- earnings on investments ($1,497,302)
- net earnings on investments ($1,497,302)
- value of funds held in insurance company general account (unallocated contracts) ($969,451)
- total contributions ($775,125)
- cash contributions from participants ($570,898)
- total expenses ($546,938)
- cash contributions from employers ($204,227)
- receivables participant contributions ($61,766)
- participant loans ($52,792)
- contract administrator fees ($46,362)
- total administrative expenses ($46,362)
- average account balance ($41,365)
- receivables employer contributions ($7,680)
- net income per total participant ($4,973)
- average participant cash contribution per active participant ($3,103)
- average employer cash contribution per active participant ($1,110)
- total administrative expense per participant ($133.61)
- total noninterest-bearing cash ($0)
- other receivables (not employer nor participant contributions) ($0)
- interest-bearing cash (e.g., money market accounts, certificates of deposit) ($0)
- U.S. government securities ($0.0K)
- corporate debt instruments (preferred & other than employer securities) ($0)
- corporate debt instruments (below preferred & other than employer securities) ($0)
- corporate preferred stocks (other than employer securities) ($0)
- corporate common stocks (other than employer securities) ($0)
- partnership/joint venture interests ($0)
- real estate (other than employer real property) ($0)
- loans (other than to participants) ($0)
- value of interest in common/collective trusts ($0)
- value of interest in pooled separate accounts ($0)
- value of interest in master trust investment accounts ($0.0K)
- value of interest in 103-12 investment entities ($0)
- other general investments ($0)
- employer-related securities investments ($0)
- employer-related real-property investments ($0)
- buildings and other property used in plan operation ($0)
- corrective distributions ($0)
- professional fees ($0)
- investment advisory and management fees ($0)
- other administrative expenses ($0)
- asset transfers to this plan ($0)
- asset transfers from this plan ($0)
- percentage of active participants (53.0%)
- yield on beginning-of-plan-year total assets (11.86%)
- diversity of asset types (9.5%)
- participant loans as a percentage of plan assets (0.37%)
- total administrative expense ratio (0.320%)
- total cash as a percentage of plan assets (0.00%)
- employer securities as a percentage of plan assets (0.00%)
- active participants (184)
- living participants (347)
- other retired or separated participants entitled to future benefits (163)
- retired or separated participants receiving benefits (0)
- total participants (347)
Global References