Retirement plan

BURNS INDUSTRIAL EQUIPMENT, INC. 401(K) SAVINGS PLAN

Name: BURNS INDUSTRIAL EQUIPMENT, INC. - BURNS INDUSTRIAL EQUIPMENT, INC. 401(K) SAVINGS PLAN (2023) Form 5500
Creator: BURNS INDUSTRIAL EQUIPMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BURNS INDUSTRIAL EQUIPMENT, INC. 401(K) SAVINGS PLAN, BURNS INDUSTRIAL EQUIPMENT, INC.

BURNS INDUSTRIAL EQUIPMENT, INC.EIN 25-1232695Plan #002PY 2023

210 THORN HILL ROAD - WARRENDALE, PA 15086412-856-9253burnslift.comLinkedIn201-500 employeesbusiness supplies and equipment

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$27.5M

+15.5% from 2022

Total participants

266

+5.1% from 2022

Average account balance

$105,744

+8.9% from 2022

Annual return

14.04%

+28.74 pp from 2022

Benchmarks

See 2,346 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,346 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$30.79M

Not enough data

1 years with asset history on file

Average account balance

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

$119K

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.

259

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.

86.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.93M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+11.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$322

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 5 by compensation

Provider	Service type	Compensation
HUNTINGTON NATIONAL BANK4 years Service code 27 415 S HIGH ST · COLUMBUS, OH 43215	Advisory (Plan)	$28,258
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Service code 27 PO BOX 735399 · DALLAS, TX 753735399	Advisory (Plan)	$20,878
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNITY INS COMP OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWWOD VILLAGE, CO 80111	Recordkeeping Fees	$20,029
NEWPORT GROUP, INC.2 years Filed as: NEWPORT GROUP Service code 13 300 PRIMERA BLVD, STE 200 · LAKE MARY, FL 32746	Contract Administrator	$11,300
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST OCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$3,718

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$58K

$244 / participant

Investment mgmt$53K90.9%
Contract admin$5K9.1%

% of EOY assets

0.212%

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: SCHNEIDER, DOWNS & CO.
Auditor EIN: 251408703
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$105,744

$83,045+27.3%

$130,045-18.7%

$71,511+47.9%

Participation rate

97.5%

74.1%+23.4pp

78.5%+19.0pp

67.9%+29.6pp

Annual return

14.04%

20.61%-6.6pp

-137.30%+151.3pp

28.86%-14.8pp

Employer contribution / active EE

$1,532

$2,623-41.6%

$4,321-64.5%

$2,589-40.8%

Participant deferral / active EE

$6,016

$4,436+35.6%

$5,820+3.4%

$4,291+40.2%

Admin fee / account holder

$224

$1,727-87.0%

$10,600-97.9%

$1,588-85.9%

Provider

Service type

Compensation

HUNTINGTON NATIONAL BANK4 years

Service code 27

415 S HIGH ST · COLUMBUS, OH 43215

Advisory (Plan)

$28,258

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Service code 27

PO BOX 735399 · DALLAS, TX 753735399

Advisory (Plan)

$20,878

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNITY INS COMP OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWWOD VILLAGE, CO 80111

Recordkeeping Fees

$20,029

NEWPORT GROUP, INC.2 years

Filed as: NEWPORT GROUP

Service code 13

300 PRIMERA BLVD, STE 200 · LAKE MARY, FL 32746

Contract Administrator

$11,300

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST OCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$3,718

BURNS INDUSTRIAL EQUIPMENT, INC. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BURNS INDUSTRIAL EQUIPMENT, INC. 401(K) SAVINGS 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