Powered by OnlyBoth

Benchmarking Scot Forge Company 401(K) Plan in Spring Grove, IL against all plans

 

Scot Forge Company 401(K) Plan in Spring Grove, IL has the highest average account balance ($76,184) of the 171 plans with at least 444 active participants and that are in the Great Lakes area, provide for automatic enrollment, and whose economic sector is Manufacturing. That $76,184 compares to an average of $36,524 across those 171 plans.

Beating the average of $36,524 means an extra $20,543,820 in total assets.

Note: average account balance = total assets ÷ total participants

Scot Forge Company 401(K) Plan has these standings among those 171 peer plans:

  • average account balance = $76,184 (the highest)

  • total assets = $39,463,553 (42nd-most)

  • total participants = 518 (3rd-fewest)

Visualize

 
 

Peers

after Scot Forge Company 401(K) Plan in Spring Grove, IL ($76,184, 444), closest are Wells Vehicle Electronics 401(K) Savings Plan in Fond Du Lac, WI ($75,278, 481), MTI 401(K) Plan in Auburn, IN ($69,655, 577), L.E. Jones Company 401(K) Plan in Menominee, MI ($69,441, 450), and Grassland Dairy Products, Inc Profit Sharing Plan in Greenwood, WI ($66,092, 455), ending with Awp, Inc. 401(K) Plan in North Canton, OH ($2,196, 4,104).

References

  1. provide for automatic enrollment. 401(k) plan or 403(b) plan that provides for automatic enrollment in a plan that has elective contributions deducted from payroll. Feature code 2S within Line 8a of Form 5500. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  2. 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-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  3. whose economic sector is. The economic sector is the first two 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-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  4. in region. The 9 regions with their corresponding states or other geographic entities are: New England (CT ME MA NH RI VT), Mid Atlantic (DE DC MD NJ NY PA), Great Lakes (IL IN MI OH WI), Plains (IA KS MN MO NE ND SD), Southeast (AL AR FL GA KY LA MS NC SC TN VA WV), Southwest (AZ NM OK TX), Rocky Mountains (CO ID MT UT WY), Far West (AK CA HI NV OR WA), and Outlying Areas (VI PR GU AS MP). Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  5. active participants. Total number of active participants at the end of the plan year, Line 6a(2) in Form 5500. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.