Retirement plan

ADVANCE EQUIPMENT MANUFACTURING COMPANY 401(K) RETIREMENT SAVINGS PLAN

Name: ADVANCE EQUIPMENT MANUFACTURING COMPANY - ADVANCE EQUIPMENT MANUFACTURING COMPANY 401(K) RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: ADVANCE EQUIPMENT MANUFACTURING COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ADVANCE EQUIPMENT MANUFACTURING COMPANY 401(K) RETIREMENT SAVINGS PLAN, ADVANCE EQUIPMENT MANUFACTURING COMPANY

ADVANCE EQUIPMENT MANUFACTURING COMPANYEIN 36-0707880Plan #002PY 2024

4615 WEST CHICAGO AVENUE - CHICAGO, IL 60651773-287-8220advance-equipment.comLinkedIn11-50 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3M

+4.9% from 2023

Total participants

+21.1% from 2023

Average account balance

$141,908

-15.1% from 2023

Annual return

11.54%

-2.64 pp from 2023

Benchmarks

See 49,870 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort49,870 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.98M

Not enough data

1 years with asset history on file

Average account balance

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

$142K

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.

110.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$123K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14964

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 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

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

$314K

$16539 / participant

Other / not subdivided$314K100.0%

% of EOY assets

10.545%

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

$141,908

$88,815+59.8%

$81,882+73.3%

$145,897-2.7%

Participation rate

89.5%

75.1%+14.4pp

72.4%+17.1pp

80.3%+9.2pp

Annual return

11.54%

1033.75%-1022.2pp

779.47%-767.9pp

552.29%-540.7pp

Employer contribution / active EE

$1,863

$3,086-39.6%

$2,916-36.1%

$4,663-60.0%

Participant deferral / active EE

$4,614

$4,647-0.7%

$4,323+6.7%

$6,689-31.0%

Admin fee / account holder

$14,964

$8,434+77.4%

$7,360+103.3%

$13,390+11.7%

ADVANCE EQUIPMENT MANUFACTURING COMPANY 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ADVANCE EQUIPMENT MANUFACTURING COMPANY 401(K) RETIREMENT 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