Retirement plan

EQUIPNET, INC. 401(K) PROFIT SHARING PLAN

Name: EQUIPNET, INC. - EQUIPNET, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: EQUIPNET, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EQUIPNET, INC. 401(K) PROFIT SHARING PLAN, EQUIPNET, INC.

EQUIPNET, INC.EIN 04-3470291Plan #001PY 2024

5 DAN ROAD - CANTON, MA 02021617-849-6120equipnet.comLinkedIn51-200 employeesinternational trade and development

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$14.1M

+26.3% from 2023

Total participants

110

+5.8% from 2023

Average account balance

$132,667

+17.9% from 2023

Annual return

20.61%

+1.07 pp from 2023

Benchmarks

See 8,993 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort8,993 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.06M

Not enough data

1 years with asset history on file

Average account balance

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

$133K

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.

106

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.

153.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$703K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+20.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1366

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 codes2E2F2G2J3D3H2T

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$145K

$2098 / participant

Other / not subdivided$145K100.0%

% of EOY assets

1.029%

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: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$132,667

$101,795+30.3%

$165,100-19.6%

$80,959+63.9%

Participation rate

94.2%

71.8%+22.4pp

78.6%+15.6pp

67.7%+26.5pp

Annual return

20.61%

16.73%+3.9pp

70.21%-49.6pp

35.67%-15.1pp

Employer contribution / active EE

$3,169

$2,954+7.3%

$4,348-27.1%

$2,757+15.0%

Participant deferral / active EE

$7,017

$4,476+56.8%

$6,035+16.3%

$4,300+63.2%

Admin fee / account holder

$1,366

$8,221-83.4%

$12,696-89.2%

$6,925-80.3%

EQUIPNET, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EQUIPNET, INC. 401(K) PROFIT SHARING 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