Retirement plan

WORCESTER ELEVATOR COMPANY, INC. UNION 401(K) /

Name: WORCESTER ELEVATOR COMPANY, INC. UNION 401(K) / PROFIT SHARING PLAN - WORCESTER ELEVATOR COMPANY, INC. UNION 401(K) / (2016) Form 5500
Creator: WORCESTER ELEVATOR COMPANY, INC. UNION 401(K) / PROFIT SHARING PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WORCESTER ELEVATOR COMPANY, INC. UNION 401(K) /, WORCESTER ELEVATOR COMPANY, INC. UNION 401(K) / PROFIT SHARING PLAN

WORCESTER ELEVATOR COMPANY, INC. UNION 401(K) / PROFIT SHARING PLANEIN 04-2670962Plan #002PY 2016

2 - 4 SOUTHBRIDGE STREET - AUBURN, MA 01501508-752-2001worcesterelevator.comLinkedIn11-50 employeesfacilities services

Other plans on this EIN

1 filing

#001Retirement-$2.0M assets

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$923K

+11.9% from 2015

Total participants

+66.7% from 2015

Average account balance

$153,810

+11.9% from 2015

Annual return

8.80%

+9.24 pp from 2015

Benchmarks

See 21,241 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,241 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.41M

Not enough data

1 years with asset history on file

Average account balance

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

$128K

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.

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.

110.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$83K

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

+14.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2544

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$153,810

$88,707+73.4%

$74,184+107.3%

$273,972-43.9%

Participation rate

33.3%

79.4%-46.1pp

76.6%-43.3pp

83.0%-49.7pp

Annual return

8.80%

11.94%-3.1pp

17.74%-8.9pp

41.46%-32.7pp

Employer contribution / active EE

$3,159-100.0%

$2,370-100.0%

$4,869-100.0%

Participant deferral / active EE

$4,310

$4,212+2.3%

$3,550+21.4%

$5,287-18.5%

Admin fee / account holder

$8,717-100.0%

$5,586-100.0%

$10,133-100.0%

WORCESTER ELEVATOR COMPANY, INC. UNION 401(K) /

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

WORCESTER ELEVATOR COMPANY, INC. UNION 401(K) /

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion