Retirement plan

SCOTT EQUIPMENT COMPANY EMPLOYEES 401(K) PROFIT SHARING PLAN

Name: SCOTT EQUIPMENT COMPANY - SCOTT EQUIPMENT COMPANY EMPLOYEES 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: SCOTT EQUIPMENT COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCOTT EQUIPMENT COMPANY EMPLOYEES 401(K) PROFIT SHARING PLAN, SCOTT EQUIPMENT COMPANY

SCOTT EQUIPMENT COMPANYEIN 41-0904660Plan #001PY 2020

605 4TH AVENUE NW - NEW PRAGUE, MN 56071952-758-0442scottequipment.comLinkedIn51-200 employeesmachinery

Other plans on this EIN

1 filing

#002Retirement-$4.8M assets

Prospect flagsHigh feesRecently reached 100 employeesCorrective distributions

How to read this page

Total assets (EOY)

$19.1M

+11.6% from 2019

Total participants

130

+20.4% from 2019

Average account balance

$146,966

No prior year

Annual return

16.23%

-4.35 pp from 2019

Benchmarks

See 4,082 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,082 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.16M

Not enough data

1 years with asset history on file

Average account balance

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

$150K

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.

161

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.

95.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.66M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+13.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$550

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
WILSHIRE ASSOCIATES INCORPORATED3 years Filed as: WILSHIRE ASSOCIATES INC Service code 26 · EIN 95-2755361 1299 OCEAN AVE · SANTA MONICA, CA 90291	Advisory (Participants)	$3,185
JOHN HANCOCK LIFE INSURANCE COMPANY3 years Filed as: JOHN HANCOCK LIFE INS CO USA Service code 15 · EIN 01-0233346 PO BOX 600 · BUFFALO, NY 142010600	Recordkeeping	$1,878

Plan features & details

Pension benefit codes2A2E2F2G2J3D

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.
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

3 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).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$77K

$766 / participant

Contract admin$77K100.0%

% of EOY assets

0.405%

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: BOMBERG, HANSON & ASSOCIATES, LLC
Auditor EIN: 203294646
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$146,966

$73,638+99.6%

$95,960+53.2%

$73,493+100.0%

Participation rate

100.0%

76.2%+23.8pp

77.1%+22.9pp

70.7%+29.3pp

Annual return

16.23%

16.78%-0.5pp

91.63%-75.4pp

28.51%-12.3pp

Employer contribution / active EE

$1,828

$1,863-1.9%

$2,541-28.1%

$2,270-19.5%

Participant deferral / active EE

$5,478

$3,617+51.4%

$4,167+31.5%

$3,740+46.5%

Admin fee / account holder

$595

$482+23.5%

$6,797-91.2%

$513+16.0%

Provider

Service type

Compensation

WILSHIRE ASSOCIATES INCORPORATED3 years

Filed as: WILSHIRE ASSOCIATES INC

Service code 26 · EIN 95-2755361

1299 OCEAN AVE · SANTA MONICA, CA 90291

Advisory (Participants)

$3,185

JOHN HANCOCK LIFE INSURANCE COMPANY3 years

Filed as: JOHN HANCOCK LIFE INS CO USA

Service code 15 · EIN 01-0233346

PO BOX 600 · BUFFALO, NY 142010600

Recordkeeping

$1,878

SCOTT EQUIPMENT COMPANY EMPLOYEES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCOTT EQUIPMENT COMPANY EMPLOYEES 401(K) PROFIT SHARING 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