Retirement plan

THE BAKER COMPANY PROFIT SHARING AND RETIREMENT PLAN

Name: THE BAKER COMPANY - THE BAKER COMPANY PROFIT SHARING AND RETIREMENT PLAN (2024) Form 5500
Creator: THE BAKER COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BAKER COMPANY PROFIT SHARING AND RETIREMENT PLAN, THE BAKER COMPANY

THE BAKER COMPANYEIN 01-0222106Plan #001PY 2024

175 GATEHOUSE ROAD - SANFORD, ME 04073207-324-8773bakerco.comLinkedIn51-200 employeesbiotechnology

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$19.7M

+9.4% from 2023

Total participants

184

-16.4% from 2023

Average account balance

$109,903

+25.9% from 2023

Annual return

13.23%

-3.53 pp from 2023

Benchmarks

See 4,104 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,104 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$19.67M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$110K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

179

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

96.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.15M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.23%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$340

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 3 by compensation

Provider	Service type	Compensation
COMMONWEALTH FINANCIAL NETWORK6 years Filed as: COMMONWEALTH EQUITY SERVICES LLC Service code 27 29 SAWYER ROAD · WALTHAM, MA 024533483	Advisory (Plan)	$45,464
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$13,103
DOWNEAST PENSION SERVICES, INC.6 years Service code 13 41 CAMPUS DRIVE, SUITE 302 · NEW GLOUCESTER, ME 04260	Contract Administrator	$2,325

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$61K

$423 / participant

Recordkeeping$13K21.5%
Contract admin$48K78.5%

% of EOY assets

0.310%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDMP ASSURANCE LLP
Auditor EIN: 994708358
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$109,903

$79,184+38.8%

$102,438+7.3%

$74,546+47.4%

Participation rate

96.5%

74.8%+21.8pp

76.5%+20.0pp

67.2%+29.3pp

Annual return

13.23%

54.95%-41.7pp

29.37%-16.1pp

1366.03%-1352.8pp

Employer contribution / active EE

$2,257

$2,362-4.4%

$3,024-25.4%

$2,624-14.0%

Participant deferral / active EE

$5,698

$4,414+29.1%

$5,054+12.8%

$4,347+31.1%

Admin fee / account holder

$340

$2,001-83.0%

$9,448-96.4%

$1,944-82.5%

Provider

Service type

Compensation

COMMONWEALTH FINANCIAL NETWORK6 years

Filed as: COMMONWEALTH EQUITY SERVICES LLC

Service code 27

29 SAWYER ROAD · WALTHAM, MA 024533483

Advisory (Plan)

$45,464

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$13,103

DOWNEAST PENSION SERVICES, INC.6 years

Service code 13

41 CAMPUS DRIVE, SUITE 302 · NEW GLOUCESTER, ME 04260

Contract Administrator

$2,325

THE BAKER COMPANY PROFIT SHARING AND RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BAKER COMPANY PROFIT SHARING AND RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion