Benchmarking THK Rhythm Automotive Michigan Corporation 401(K) Plan in Portland, MI against all plans
THK Rhythm Automotive Michigan Corporation 401(K) Plan in Portland, MI has the lowest average account balance ($51,772) of the 21 plans whose industry group is Motor Vehicle Parts Manufacturing and have at least $10,116 in net income per total participant.
That is, among those 21 plans that do well on one measure, THK Rhythm Automotive Michigan Corporation 401(K) Plan does least well on a related measure. That $51,772 compares to an average of $105,751 across those 21 plans.
Reaching the average of $105,751 would imply an extra $15,114,173 in total assets.
Note: average account balance = total assets ÷ total participants
THK Rhythm Automotive Michigan Corporation 401(K) Plan has these standings among those 21 peer plans:
That is, among those 21 plans that do well on one measure, THK Rhythm Automotive Michigan Corporation 401(K) Plan does least well on a related measure. That $51,772 compares to an average of $105,751 across those 21 plans.
Reaching the average of $105,751 would imply an extra $15,114,173 in total assets.
Note: average account balance = total assets ÷ total participants
THK Rhythm Automotive Michigan Corporation 401(K) Plan has these standings among those 21 peer plans:
- average account balance = $51,772 (the lowest)
- total assets = $14,496,082 (4th-least)
- total participants = 280 (6th-most)
Visualize
Peers
after THK Rhythm Automotive Michigan Corporation 401(K) Plan in Portland, MI ($51,772, $10,116), closest are USSC Retirement Plan in Exton, PA ($57,925, $10,456), Car Sound Exhaust System, Inc. 401(K) Profit Sharing Plan in Oceanside, CA ($68,409, $12,336), Garrett Transportation I, Inc. 401(K) Plan in Wilmington, DE ($69,365, $19,787), and Motorcar Parts of America, Inc. 401(K) Savings Plan in Torrance, CA ($74,038, $15,381), ending with Precision International Automotive Products Inc. 401 (K) Plan in Yapank, NY ($203,151, $29,659).
Taking Action
Read the article A Unique Way to Get Others to Improve to understand the reasoning underlying such benchmarking insights.
References
- average account balance. Higher values are better. Average account balance equals total assets, in Line 1f(b) from Schedule H, divided by total participants, in Line 6f of Form 5500. 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.
- 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.
- net income per total participant. Higher values are better. Average net income per total participant equals net income, Line 2k from Schedule H, divided by total participants, Line 6f of Form 5500. 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.