Retirement plan

GCHB COLLECTIVE BARGAINING 401 (K) PROFIT SHARING PLAN & TRUST

Name: MIBA BEARINGS US LLC - GCHB COLLECTIVE BARGAINING 401 (K) PROFIT SHARING PLAN & TRUST (2022) Form 5500
Creator: MIBA BEARINGS US LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GCHB COLLECTIVE BARGAINING 401 (K) PROFIT SHARING PLAN & TRUST, MIBA BEARINGS US LLC

MIBA BEARINGS US LLCEIN 31-1786929Plan #003PY 2022

5037 N STREET RTE 60 - MCCONNELSVILLE, OH 43756740-962-4242

Other plans on this EIN

1 filing

#002Retirement-$11.8M assets

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$4M

-15.1% from 2021

Total participants

186

+3.9% from 2021

Average account balance

$41,031

-19.4% from 2021

Annual return

-14.80%

-31.22 pp from 2021

Benchmarks

See 4,068 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,068 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.48M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

103

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.

54.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$341K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4648

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

Top 3 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH5 years Service code 15 · EIN 13-5674085	Recordkeeping	$9,342
ADP BROKER-DEALER3 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$1,008
ADP BROKER-DEALER7+ years Service code 49 · EIN 22-3319984	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$9K

$52 / participant

Other / not subdivided$9K100.0%

% of EOY assets

0.224%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BENNETT THRASHER
Auditor EIN: 158167361
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,031

$65,437-37.3%

$86,698-52.7%

$66,949-38.7%

Participation rate

49.1%

75.5%-26.3pp

76.6%-27.5pp

69.8%-20.7pp

Annual return

-14.80%

-10.91%-3.9pp

35.96%-50.8pp

1.57%-16.4pp

Employer contribution / active EE

$2,154-100.0%

$2,837-100.0%

$2,545-100.0%

Participant deferral / active EE

$1,710

$4,102-58.3%

$4,656-63.3%

$4,239-59.7%

Admin fee / account holder

$92

$642-85.7%

$7,492-98.8%

$594-84.6%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH5 years

Service code 15 · EIN 13-5674085

Recordkeeping

$9,342

ADP BROKER-DEALER3 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$1,008

ADP BROKER-DEALER7+ years

Service code 49 · EIN 22-3319984

Other Services

GCHB COLLECTIVE BARGAINING 401 (K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GCHB COLLECTIVE BARGAINING 401 (K) PROFIT SHARING PLAN & TRUST

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