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Benchmarking Jackson Iron & Metal Company, Inc. Profit Sharing 401(K) Plan in Jackson, MS against all plans

 

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:

  • 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)

Visualize

 
 

Peers

beat out by Mid-States Aluminum Corp. 401(K) Profit Sharing Plan & Trust in Fond Du Lac, WI (0.00%), Sandusky International Inc. Profit Sharing and 401(K) Retirement Plan in Sandusky, OH (0.00%), A Cubed Corporation dba Concast Metal Products Company 401(K) Retirement Plan in Mars, PA (0.00%), and Calbag Metals Company Profit Sharing Plan in Portland, OR (0.00%), and 3 others, ending with HTS Employees' 401(K) Plan in Pontiac, MI (0.24%).

beat Wolverine Tube Savings Plan in Decatur, AL (0.54%), Elmet Technologies Retirement Plan in Lewiston, ME (0.55%), American Zinc Recycling Salaried Retirement Savings Plan in Moon Twp, PA (0.73%), and Production Castings, Inc. 401(K) Profit Sharing Plan in Fenton, MO (0.75%), and 36 others, ending with US Magnesium LLC Hourly 401(K) Plan in Salt Lake City, UT (5.86%).

References

  1. 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.
  2. 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.