Retirement plan

INNOVATIVE HANDLING, LLC 401(K) & PROFIT SHARING PLAN

Name: INNOVATIVE HANDLING, LLC - INNOVATIVE HANDLING, LLC 401(K) & PROFIT SHARING PLAN (2020) Form 5500
Creator: INNOVATIVE HANDLING, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOVATIVE HANDLING, LLC 401(K) & PROFIT SHARING PLAN, INNOVATIVE HANDLING, LLC

INNOVATIVE HANDLING, LLCEIN 34-1940141Plan #001PY 2020

7755 SYLVANIA AVE - SYLVANIA, OH 43560419-882-7480innovativehandling.comLinkedIn11-50 employeesindustrial automation

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

+22.3% from 2019

Total participants

+8.7% from 2019

Average account balance

$61,283

+12.5% from 2019

Annual return

8.54%

-19.47 pp from 2019

Benchmarks

See 21,449 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,449 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.31M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

148.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$288K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1271

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 codes2E2F2G2J2T3B3D

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$12K

$564 / participant

Other / not subdivided$12K100.0%

% of EOY assets

0.810%

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

$61,283

$112,121-45.3%

$95,960-36.1%

$158,966-61.4%

Participation rate

100.0%

79.0%+21.0pp

77.1%+22.9pp

82.0%+18.0pp

Annual return

8.54%

171.16%-162.6pp

91.63%-83.1pp

302.95%-294.4pp

Employer contribution / active EE

$3,712

$3,199+16.0%

$2,541+46.1%

$4,762-22.0%

Participant deferral / active EE

$4,243

$4,784-11.3%

$4,167+1.8%

$5,983-29.1%

Admin fee / account holder

$496

$10,135-95.1%

$6,797-92.7%

$11,250-95.6%

INNOVATIVE HANDLING, LLC 401(K) & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVATIVE HANDLING, LLC 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