Retirement plan

EQUIPNET, INC. 401(K) PROFIT SHARING PLAN

Name: EQUIPNET, INC. - EQUIPNET, INC. 401(K) PROFIT SHARING PLAN (2023) 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 2023

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$11.1M

+10.0% from 2022

Total participants

104

-5.5% from 2022

Average account balance

$112,484

+7.8% from 2022

Annual return

19.54%

+37.72 pp from 2022

Benchmarks

See 9,213 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,213 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.47M

Not enough data

1 years with asset history on file

Average account balance

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

$157K

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.

105

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.

166.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$718K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+18.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9694

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$1.7M

$24988 / participant

Other / not subdivided$2M100.0%

% of EOY assets

15.259%

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

$112,484

$91,525+22.9%

$130,026-13.5%

$75,181+49.6%

Participation rate

92.6%

71.4%+21.2pp

78.5%+14.2pp

67.2%+25.4pp

Annual return

19.54%

-631.40%+650.9pp

-137.26%+156.8pp

160.69%-141.1pp

Employer contribution / active EE

$3,220

$2,844+13.2%

$4,321-25.5%

$2,671+20.6%

Participant deferral / active EE

$6,720

$4,342+54.8%

$5,821+15.5%

$4,126+62.9%

Admin fee / account holder

$17,164

$6,778+153.2%

$10,608+61.8%

$5,650+203.8%

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