Retirement plan

BALANCE TECHNOLOGY, INC. 401(K) PLAN

Name: BALANCE TECHONOLOGY, INC. - BALANCE TECHNOLOGY, INC. 401(K) PLAN (2019) Form 5500
Creator: BALANCE TECHONOLOGY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BALANCE TECHNOLOGY, INC. 401(K) PLAN, BALANCE TECHONOLOGY, INC.

BALANCE TECHONOLOGY, INC.EIN 38-2822225Plan #001PY 2019

7035 JOMAR RD. - WHITMORE LAKE, MI 48189734-769-2100LinkedIn1-10 employeesaccounting

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$19.4M

+26.5% from 2018

Total participants

186

-3.6% from 2018

Average account balance

$135,837

+28.3% from 2018

Annual return

24.98%

+30.40 pp from 2018

Benchmarks

See 4,277 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,277 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.69M

Not enough data

1 years with asset history on file

Average account balance

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

$178K

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.

73.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$601K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+15.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$828

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 2 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.5+ years Service code 15 · EIN 94-1347393	Recordkeeping	$42,550
PLANTE & MORAN, PLLC2 years Filed as: PLANTE MORAN FINANCIAL ADVISORS Service code 10 · EIN 38-1357951	Accounting	$34,172

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$78K

$506 / participant

Other / not subdivided$78K100.0%

% of EOY assets

0.401%

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: PLANTE & MORAN, PLLC
Auditor EIN: 381357951
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$135,837

$65,376+107.8%

$87,102+56.0%

$65,185+108.4%

Participation rate

72.1%

75.3%-3.3pp

76.9%-4.8pp

70.2%+1.9pp

Annual return

24.98%

31.27%-6.3pp

28.19%-3.2pp

29.38%-4.4pp

Employer contribution / active EE

$3,121

$1,822+71.2%

$2,521+23.8%

$2,177+43.4%

Participant deferral / active EE

$5,284

$3,388+55.9%

$4,048+30.5%

$3,514+50.4%

Admin fee / account holder

$545

$520+4.8%

$7,491-92.7%

$847-35.7%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.5+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$42,550

PLANTE & MORAN, PLLC2 years

Filed as: PLANTE MORAN FINANCIAL ADVISORS

Service code 10 · EIN 38-1357951

Accounting

$34,172

BALANCE TECHNOLOGY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BALANCE TECHNOLOGY, INC. 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