Retirement plan

BMR GROUP RETIREMENT READINESS 401(K) PLAN

Name: BOYD MACHINE AND REPAIR CO INC - BMR GROUP RETIREMENT READINESS 401(K) PLAN (2023) Form 5500
Creator: BOYD MACHINE AND REPAIR CO INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BMR GROUP RETIREMENT READINESS 401(K) PLAN, BOYD MACHINE AND REPAIR CO INC

BOYD MACHINE AND REPAIR CO INCEIN 35-1418261Plan #001PY 2023

3794 WEST 50 SOUTH - KIMMELL, IN 46760260-635-2195LinkedIn1-10 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$809K

+33.8% from 2022

Total participants

+8.3% from 2022

Average account balance

$32,364

+28.5% from 2022

Annual return

15.63%

+32.41 pp from 2022

Benchmarks

See 9,811 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,811 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$974K

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

120.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$182K

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

+12.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11878

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 codes2E2J2F2G3D3H2T

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.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$64K

$2580 / participant

Other / not subdivided$64K100.0%

% of EOY assets

7.971%

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

$32,364

$57,305-43.5%

$86,640-62.6%

$75,173-56.9%

Participation rate

96.0%

63.2%+32.8pp

71.7%+24.3pp

67.2%+28.8pp

Annual return

15.63%

2674.24%-2658.6pp

592.52%-576.9pp

160.72%-145.1pp

Employer contribution / active EE

$3,059

$2,316+32.1%

$3,024+1.1%

$2,671+14.5%

Participant deferral / active EE

$3,638

$3,320+9.6%

$4,438-18.0%

$4,126-11.8%

Admin fee / account holder

$2,580

$4,116-37.3%

$5,616-54.1%

$5,651-54.3%

BMR GROUP RETIREMENT READINESS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BMR GROUP RETIREMENT READINESS 401(K) 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