Metal Fastening Systems 401(k) Plan
ERISA Form 5500 plan record drawn from DOL EBSA — verify with linked source filings below.
Sponsored by Metal Fastening Systems, Inc. · North Carolina · Manufacturing
What the 2023 filing shows
Metal Fastening Systems 401(k) Plan holds $272K for 103 participants - about $2,645 per participant, down 82.6% over the 2022 plan year.
- $272K
- total plan assets (2022 EOY)
- 103
- covered participants
- $2,645
- avg assets per participant
- -82.6%
- assets change YoY
The plan reported a net loss of $52K for the year — a single-year figure driven by markets and benefit payments, not a measure of plan health.
What the Filing Says About Metal Fastening Systems 401(k) Plan
Metal Fastening Systems 401(k) Plan is a 401(k) retirement plan sponsored by Metal Fastening Systems, Inc., headquartered in North Carolina. As of the 2022 Form 5500 filing, the plan reports $272K in total end-of-year assets and covers 103 participants across the Manufacturing industry. The sponsor's EIN on file with the U.S. Department of Labor is 300507926, and the plan has been effective since 2018-10-01. Its filing status is currently FILING RECEIVED.
Year over year, total assets moved from $2M at the beginning of 2022 to $272K at year-end — a decline of 82.6%. Net assets (after liabilities) closed the year at $272K, with reported net income of $-52,040 driven by investment returns, contributions received, and benefit payments during the period. These figures reflect what the plan administrator certified on Schedule H or Schedule I of the Form 5500 annual return.
Asset totals and participant counts reflect a single plan year snapshot and can change materially with market conditions, plan mergers, or workforce changes. Fields such as "net income" include both realized investment performance and contribution/distribution flows — a single-year figure does not by itself indicate plan health or participant outcomes. This page summarizes public DOL disclosures for research and educational purposes only and is not retirement, tax, legal, or financial advice. Before making decisions about your own retirement benefits or evaluating an employer's plan, verify the underlying filing directly via the DOL EFAST2 system and consult a qualified professional.
Financial Summary (2023)
| Total Assets (Beginning of Year) | $2M |
| Total Assets (End of Year) | $272K |
| Net Assets (End of Year) | $272K |
| Net Income | $-52,040 |
| Plan Type | 401(k) |
| Employer EIN | 300507926 |
| Plan Effective Date | 2018-10-01 |
| Filing Status | FILING RECEIVED |
Nearby 401(k) Plans in North Carolina
Peer 401(k) plans — same state, same plan type — ranked by total assets.
- The Bank of America 401(k) Plan $54.8B · 173,899
- Honeywell 401(k) Plan $15.4B · 40,004
- Duke Energy Retirement Savings Plan $10.4B · 28,121
- Truist Financial Corporation 401(k) Savings Plan $10.1B · 55,480
- Nucor Corporation Profit Sharing and Retirement Savings Plan $8.5B · 24,174
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Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.
Source: DOL EFAST2 filing system (efast.dol.gov) — original filing retrieval by EIN 300507926.
Reference: IRS Publication 560 — Retirement Plans for Small Business, contribution-limit rules.
Reference: IRS Publication 590-B — Distributions from IRAs, RMD rules under SECURE Act 2.0.
Read our methodology — how this data is sourced, computed, and verified.