Retirement plan

BEARING & DRIVE SOLUTIONS 401(K) RETIREMENT PLAN

Name: BEARINGS & DRIVES UNLIMITED, INC. - BEARING & DRIVE SOLUTIONS 401(K) RETIREMENT PLAN (2017) Form 5500
Creator: BEARINGS & DRIVES UNLIMITED, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BEARING & DRIVE SOLUTIONS 401(K) RETIREMENT PLAN, BEARINGS & DRIVES UNLIMITED, INC.

BEARINGS & DRIVES UNLIMITED, INC.EIN 27-2245260Plan #001PY 2017

3443 BETHLEHEM PIKE - SOUDERTON, PA 18964215-723-5068LinkedIn1-10 employees

Prospect flagsHigh feesRecently reached 100 employeesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$13.7M

+27.3% from 2016

Total participants

166

+39.5% from 2016

Average account balance

$103,172

-22.5% from 2016

Annual return

23.93%

+17.26 pp from 2016

Benchmarks

See 2,371 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,371 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.05M

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

319

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.91M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+14.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$388

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 3 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY3+ years Filed as: JOHN HANCOCK LIFE INS. COMPANY Service code 15 · EIN 01-0233346	Recordkeeping	$214
COMPREHENSIVE FINANCIAL PLANNING3+ years Filed as: COMPREHENSIVE BROKERAGE SVCS, INC Service code 26 300 CONSHOHOCKEN STATE ROAD · WEST CONSHOHOCKEN, PA 19428	Advisory (Participants)	$0
ALLIANCE PENSION CONSULTANTS, LLC1 year Filed as: THE PARAGON ALLIANCE GROUP, LLC Service code 17 · EIN 23-3044062	Pension Consulting	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

4 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).
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

$55K

$354 / participant

Investment mgmt$16K29.5%
Contract admin$33K60.8%
Other / not subdivided$5K9.7%

% of EOY assets

0.400%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: DETWEILER HERSHEY & ASSOC. PC
Auditor EIN: 231887636
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$103,172

$71,192+44.9%

$117,861-12.5%

$62,293+65.6%

Participation rate

78.7%

74.2%+4.5pp

79.7%-1.0pp

69.5%+9.2pp

Annual return

23.93%

18.66%+5.3pp

335.11%-311.2pp

28.90%-5.0pp

Employer contribution / active EE

$1,176

$1,934-39.2%

$3,786-68.9%

$2,042-42.4%

Participant deferral / active EE

$3,601

$3,189+12.9%

$4,482-19.7%

$3,169+13.6%

Admin fee / account holder

$413

$587-29.7%

$8,021-94.9%

$479-13.9%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY3+ years

Filed as: JOHN HANCOCK LIFE INS. COMPANY

Service code 15 · EIN 01-0233346

Recordkeeping

$214

COMPREHENSIVE FINANCIAL PLANNING3+ years

Filed as: COMPREHENSIVE BROKERAGE SVCS, INC

Service code 26

300 CONSHOHOCKEN STATE ROAD · WEST CONSHOHOCKEN, PA 19428

Advisory (Participants)

ALLIANCE PENSION CONSULTANTS, LLC1 year

Filed as: THE PARAGON ALLIANCE GROUP, LLC

Service code 17 · EIN 23-3044062

Pension Consulting

BEARING & DRIVE SOLUTIONS 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BEARING & DRIVE SOLUTIONS 401(K) RETIREMENT 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