Retirement plan

NORTH MILL EQUIPMENT FINANCE RETIREMENT PLAN

Name: NORTH MILL EQUIPMENT FINANCE LLC - NORTH MILL EQUIPMENT FINANCE RETIREMENT PLAN (2024) Form 5500
Creator: NORTH MILL EQUIPMENT FINANCE LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTH MILL EQUIPMENT FINANCE RETIREMENT PLAN, NORTH MILL EQUIPMENT FINANCE LLC

NORTH MILL EQUIPMENT FINANCE LLCEIN 36-4731388Plan #001PY 2024

601 MERRITT 7, SUITE 5 - NORWALK, CT 06851203-354-6000nmef.comLinkedIn51-200 employeesfinancial services

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$11.5M

+46.1% from 2023

Total participants

282

+101.4% from 2023

Average account balance

$43,252

-23.4% from 2023

Annual return

36.83%

+11.18 pp from 2023

Benchmarks

See 2,174 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,174 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.55M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

267

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.

91.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.14M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+36.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$348

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
VALMARK ADVISERS INC2 years Filed as: VALMARK ADVISERS, INC. Service code 99 · EIN 31-1509466	Other Fees	$28,537
EPIC RETIREMENT PLAN SERVICES3 years Filed as: REGENCY RETIREMENT PLAN CONSULTANTS Service code 99 · EIN 77-0155091	Other Fees	$20,903
VOYA RETIREMENT INSURANCE & ANNUITY1 year Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 64 · EIN 71-0294708	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$93K

$534 / participant

Investment mgmt$93K100.0%

% of EOY assets

0.804%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MERCADIEN PC CPA'S
Auditor EIN: 223271712
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,252

$122,042-64.6%

$184,260-76.5%

$74,459-41.9%

Participation rate

91.4%

85.5%+5.9pp

86.8%+4.6pp

67.2%+24.2pp

Annual return

36.83%

19.91%+16.9pp

28.84%+8.0pp

1369.70%-1332.9pp

Employer contribution / active EE

$5,292

$4,537+16.6%

$6,427-17.7%

$2,626+101.5%

Participant deferral / active EE

$6,983

$7,143-2.2%

$9,133-23.5%

$4,350+60.5%

Admin fee / account holder

$348

$1,252-72.2%

$13,898-97.5%

$1,945-82.1%

Provider

Service type

Compensation

VALMARK ADVISERS INC2 years

Filed as: VALMARK ADVISERS, INC.

Service code 99 · EIN 31-1509466

Other Fees

$28,537

EPIC RETIREMENT PLAN SERVICES3 years

Filed as: REGENCY RETIREMENT PLAN CONSULTANTS

Service code 99 · EIN 77-0155091

Other Fees

$20,903

VOYA RETIREMENT INSURANCE & ANNUITY1 year

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 64 · EIN 71-0294708

Recordkeeping Fees

NORTH MILL EQUIPMENT FINANCE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTH MILL EQUIPMENT FINANCE 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