Retirement plan

NEW ENGLAND CONTROLS 401K PLAN

Name: NEW ENGLAND CONTROLS, INC. - NEW ENGLAND CONTROLS 401K PLAN (2020) Form 5500
Creator: NEW ENGLAND CONTROLS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW ENGLAND CONTROLS 401K PLAN, NEW ENGLAND CONTROLS, INC.

NEW ENGLAND CONTROLS, INC.EIN 04-2389826Plan #002PY 2020

9 OXFORD ROAD - MANSFIELD, MA 02048508-339-5522LinkedIn1-10 employeesconsumer goods

Other plans on this EIN

1 filing

#004Retirement-$54.9M assets

Prospect flagsLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$24.5M

+22.7% from 2019

Total participants

280

+43.6% from 2019

Average account balance

$105,046

-11.0% from 2019

Annual return

19.84%

-10.48 pp from 2019

Benchmarks

See 1,266 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,266 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$40.30M

Not enough data

1 years with asset history on file

Average account balance

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

$104K

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.

389

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.

74.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.60M

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

+14.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$276

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
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY Service code 49 · EIN 26-4310632	Other Services	$35,462
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290	Contract Administrator	$12,359
WILSHIRE ASSOCIATES INCORPORATED4 years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

Plan features

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$12K

$49 / participant

Contract admin$12K100.0%

% of EOY assets

0.050%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: KAHN, LITWIN, RENZA & CO., LTD
Auditor EIN: 050409384
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$105,046

$78,419+34.0%

$133,978-21.6%

$73,412+43.1%

Participation rate

81.5%

78.6%+2.9pp

79.8%+1.7pp

72.2%+9.3pp

Annual return

19.84%

33.35%-13.5pp

45.10%-25.3pp

59.30%-39.5pp

Employer contribution / active EE

$2,044-100.0%

$3,919-100.0%

$2,234-100.0%

Participant deferral / active EE

$6,834

$3,925+74.1%

$5,047+35.4%

$3,806+79.6%

Admin fee / account holder

$53

$161-67.1%

$8,930-99.4%

$158-66.4%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY

Service code 49 · EIN 26-4310632

Other Services

$35,462

PRINCIPAL LIFE INSURANCE COMPANY6+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$12,359

WILSHIRE ASSOCIATES INCORPORATED4 years

Service code 27 · EIN 95-2755361

Advisory (Plan)

NEW ENGLAND CONTROLS 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW ENGLAND CONTROLS 401K 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