Retirement plan

BAKER MANUFACTURING COMPANY, LLC 401(K) DEFERRED PROFIT SHARING PLAN

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

BAKER MANUFACTURING COMPANY, LLCEIN 20-4668380Plan #001PY 2024

133 ENTERPRISE ST. - EVANSVILLE, WI 53536608-882-5100bakermfg.comLinkedIn201-500 employeesmechanical or industrial engineering

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$19.4M

+9.2% from 2023

Total participants

243

-5.4% from 2023

Average account balance

$91,727

+15.9% from 2023

Annual return

12.02%

-2.90 pp from 2023

Benchmarks

See 4,103 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,103 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.45M

Not enough data

1 years with asset history on file

Average account balance

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

$92K

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.

212

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.

83.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$987K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$372

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
STEELE CAPITAL MANAGEMENT, INC.10+ years Filed as: STEELE CAPITAL MANAGEMENT Service code 28 · EIN 42-1460565	Investment Management	$46,920
EPIC RETIREMENT PLAN SERVICES5 years Filed as: EPIC RETIREMENT PLAN SERVICES, INC. Service code 15 · EIN 16-1450952	Recordkeeping	$31,882
CHARLES SCHWAB & CO., INC.5 years Filed as: CHARLES SCHWAB TRUST BANK Service code 19 · EIN 82-3967259	Securities Custodian	$8,266
CHARLES SCHWAB & CO., INC.6 years Service code 59 · EIN 94-1737782	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$79K

$428 / participant

Recordkeeping$32K40.5%
Investment mgmt$47K59.5%

% of EOY assets

0.405%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CHERRY BEKAERT, LLC
Auditor EIN: 560574444
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$91,727

$79,181+15.8%

$102,423-10.4%

$74,429+23.2%

Participation rate

83.2%

74.8%+8.4pp

76.5%+6.6pp

67.2%+15.9pp

Annual return

12.02%

54.97%-42.9pp

29.42%-17.4pp

1368.38%-1356.4pp

Employer contribution / active EE

$1,368

$2,362-42.1%

$3,023-54.7%

$2,625-47.9%

Participant deferral / active EE

$3,996

$4,416-9.5%

$5,054-20.9%

$4,348-8.1%

Admin fee / account holder

$372

$2,002-81.4%

$9,455-96.1%

$1,944-80.9%

Provider

Service type

Compensation

STEELE CAPITAL MANAGEMENT, INC.10+ years

Filed as: STEELE CAPITAL MANAGEMENT

Service code 28 · EIN 42-1460565

Investment Management

$46,920

EPIC RETIREMENT PLAN SERVICES5 years

Filed as: EPIC RETIREMENT PLAN SERVICES, INC.

Service code 15 · EIN 16-1450952

Recordkeeping

$31,882

CHARLES SCHWAB & CO., INC.5 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$8,266

CHARLES SCHWAB & CO., INC.6 years

Service code 59 · EIN 94-1737782

Shareholder Servicing

BAKER MANUFACTURING COMPANY, LLC 401(K) DEFERRED PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BAKER MANUFACTURING COMPANY, LLC 401(K) DEFERRED 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