Drake Enterprises, Inc.401(k)
DRAKE ENTERPRISES, INC. 401(K) PROFIT SHARING PLAN AND TRUST · CLINTON TOWNSHIP, MI · plan year 2022
Drake Enterprises, Inc.'s 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $649,408 across 40 participant accounts, with employer contributions averaging $284 per active participant. See methodology for what Form 5500 does and doesn't capture.
The plan sits in the under $1M size bracket, benchmarked here against 4,041 comparable plans and shown alongside other manufacturing employers. By assets it is among the smaller plans on file in Michigan (2,529th of 2,619), and 13,409th of 13,661 in manufacturing. In 2022, employees put in $4.49 for every $1.00 the employer contributed.
Drake Enterprises, Inc.'s 2022 employer contribution ran below the $331 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 381525046 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.