Retirement plan

MONROE EQUIPMENT RETIREMENT PLAN

Name: MONROE EQUIPMENT, INC. - MONROE EQUIPMENT RETIREMENT PLAN (2023) Form 5500
Creator: MONROE EQUIPMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MONROE EQUIPMENT RETIREMENT PLAN, MONROE EQUIPMENT, INC.

MONROE EQUIPMENT, INC.EIN 39-0944901Plan #001PY 2023

P.O. BOX 100 - BUTLER, WI 53007262-783-8190monroeequipment.comLinkedIn11-50 employeeswholesale

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$14.4M

+22.7% from 2022

Total participants

+7.1% from 2022

Average account balance

$350,045

+19.7% from 2022

Annual return

18.70%

+36.12 pp from 2022

Benchmarks

See 9,210 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,210 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.48M

Not enough data

1 years with asset history on file

Average account balance

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

$411K

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.

104.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$673K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+14.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10724

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 codes2E2F2G2J2T3D3H

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$245K

$6449 / participant

Other / not subdivided$245K100.0%

% of EOY assets

1.708%

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

$350,045

$91,536+282.4%

$130,062+169.1%

$75,177+365.6%

Participation rate

89.5%

71.5%+18.0pp

78.5%+11.0pp

67.2%+22.3pp

Annual return

18.70%

-631.62%+650.3pp

-137.37%+156.1pp

160.75%-142.0pp

Employer contribution / active EE

$13,207

$2,845+364.2%

$4,322+205.6%

$2,671+394.4%

Participant deferral / active EE

$4,286

$4,343-1.3%

$5,821-26.4%

$4,126+3.9%

Admin fee / account holder

$5,977

$6,780-11.8%

$10,601-43.6%

$5,651+5.8%

MONROE EQUIPMENT RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MONROE EQUIPMENT 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