Retirement plan

EMPIRE ELECTRIC CO., INC. 401(K) PROFIT SHARING PLAN

Name: EMPIRE ELECTRIC CO., INC. - EMPIRE ELECTRIC CO., INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: EMPIRE ELECTRIC CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPIRE ELECTRIC CO., INC. 401(K) PROFIT SHARING PLAN, EMPIRE ELECTRIC CO., INC.

EMPIRE ELECTRIC CO., INC.EIN 06-1828133Plan #001PY 2023

1613 63RD STREET - BROOKLYN, NY 11204718-232-1555empireelectric.comLinkedIn1-10 employees

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$451K

+36.7% from 2022

Total participants

0.0% from 2022

Average account balance

$90,185

+36.7% from 2022

Annual return

11.92%

+26.63 pp from 2022

Benchmarks

See 22,643 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,643 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$527K

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

166.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$39K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+8.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20

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

1 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$100

$50 / participant

Other / not subdivided$100100.0%

% of EOY assets

0.022%

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

$90,185

$110,212-18.2%

$96,534-6.6%

$139,466-35.3%

Participation rate

100.0%

78.1%+21.9pp

76.0%+24.0pp

80.3%+19.7pp

Annual return

11.92%

26.42%-14.5pp

25.88%-14.0pp

373.66%-361.7pp

Employer contribution / active EE

$21,600

$3,620+496.7%

$2,965+628.4%

$4,754+354.4%

Participant deferral / active EE

$19,250

$5,547+247.0%

$4,851+296.8%

$6,712+186.8%

Admin fee / account holder

$20

$11,599-99.8%

$8,253-99.8%

$11,409-99.8%

EMPIRE ELECTRIC CO., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPIRE ELECTRIC CO., 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