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) / (2020) 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 2020

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

Other plans on this EIN

1 filing

#001Retirement-$3.9M assets

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$1.6M

+16.4% from 2019

Total participants

-68.4% from 2019

Average account balance

$270,318

+16.4% from 2019

Annual return

11.14%

-13.94 pp from 2019

Benchmarks

See 21,459 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,459 peers

Snapshot2020

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$1.67M

Not enough data

1 years with asset history on file

Average account balance

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

$167K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$87K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+14.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3181

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

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 codes2E2G2J3D2F2T

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.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$4K

$708 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.262%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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: -

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$270,318

$112,096+141.1%

$95,952+181.7%

$158,922+70.1%

Participation rate

100.0%

79.0%+21.0pp

77.1%+22.9pp

82.0%+18.0pp

Annual return

11.14%

171.09%-160.0pp

91.61%-80.5pp

302.83%-291.7pp

Employer contribution / active EE

$3,198-100.0%

$2,541-100.0%

$4,761-100.0%

Participant deferral / active EE

$12,236

$4,784+155.8%

$4,167+193.6%

$5,982+104.5%

Admin fee / account holder

$708

$10,130-93.0%

$6,795-89.6%

$11,246-93.7%

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

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

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

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