Retirement plan

EMPLOYEES RETIREMENT & SAVINGS PLAN OF CARTER MACHINERY CO., INC.

Name: CARTER MACHINERY COMPANY, INC. - EMPLOYEES RETIREMENT & SAVINGS PLAN OF CARTER MACHINERY CO., INC. (2016) Form 5500
Creator: CARTER MACHINERY COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEES RETIREMENT & SAVINGS PLAN OF CARTER MACHINERY CO., INC., CARTER MACHINERY COMPANY, INC.

CARTER MACHINERY COMPANY, INC.EIN 37-1170559Plan #004PY 2016

1330 LYNCHBURG TPKE - SALEM, VA 241535416540-387-1111cartermachinery.comLinkedIn1001-5000 employeesmachinery

Prospect flagsLow returnsCorrective distributions

Top hat statement on fileNQDC

Filed October 24, 2022 (most recent of 2 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

1330 Lynchburg Turnpike

Salem, VA 24153

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Plans declared (4)

Long Term Performance Plan12 emp
Nonqualified Deferred Compensation Plan15 emp
Performance Award Plan35 emp
Family Security Plan23 emp

Total covered: 85 employees

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Total assets (EOY)

$192.1M

-13.8% from 2017

Total participants

1,305

-3.0% from 2017

Average account balance

$149,922

-11.0% from 2017

Annual return

5.87%

-11.35 pp from 2017

Benchmarks

See 241 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort241 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$466.21M

Not enough data

1 years with asset history on file

Average account balance

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

$140K

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.

3,333

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$39.67M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+13.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$51

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1+ years Filed as: GREAT WEST FINANCIAL RETIREMENT PLA Service code 59 · EIN 71-0930784 8515 EAST ORCHARD ROAD · GREENWOOD, CO 80111	Shareholder Servicing	$5,270
MORGAN STANLEY SMITH BARNEY1+ years Filed as: J.P. MORGAN SECURITIES LLC Service code 33 · EIN 13-4110995 131 S. DEARBORN STREET · CHICAGO, IL 60606	Securities brokerage	$2,098
TD AMERITRADE, INC.1+ years Filed as: TD AMERITRADE Service code 33	Securities brokerage	$1,484

Plan features & details

Pension benefit codes2E2F2G2J2K

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$7K

$6 / participant

Other / not subdivided$7K100.0%

% of EOY assets

0.004%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BROWN EDWARDS & COMPANY, LLP
Auditor EIN: 540504608
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$149,922

$61,125+145.3%

$108,582+38.1%

$63,975+134.3%

Participation rate

97.9%

80.5%+17.4pp

79.6%+18.3pp

71.1%+26.8pp

Annual return

5.87%

14.06%-8.2pp

-51.70%+57.6pp

48.65%-42.8pp

Employer contribution / active EE

$4,317

$2,237+93.0%

$3,758+14.9%

$2,182+97.9%

Participant deferral / active EE

$4,328

$3,574+21.1%

$4,311+0.4%

$3,356+29.0%

Admin fee / account holder

$72-92.0%

$7,645-99.9%

$70-91.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1+ years

Filed as: GREAT WEST FINANCIAL RETIREMENT PLA

Service code 59 · EIN 71-0930784

8515 EAST ORCHARD ROAD · GREENWOOD, CO 80111

Shareholder Servicing

$5,270

MORGAN STANLEY SMITH BARNEY1+ years

Filed as: J.P. MORGAN SECURITIES LLC

Service code 33 · EIN 13-4110995

131 S. DEARBORN STREET · CHICAGO, IL 60606

Securities brokerage

$2,098

TD AMERITRADE, INC.1+ years

Filed as: TD AMERITRADE

Service code 33

Securities brokerage

$1,484

EMPLOYEES RETIREMENT & SAVINGS PLAN OF CARTER MACHINERY CO., INC.

Top hat statement on fileNQDC

Plan administrator

Plans declared (4)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEES RETIREMENT & SAVINGS PLAN OF CARTER MACHINERY CO., INC.

Top hat statement on fileNQDC

Plan administrator

Plans declared (4)

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