Retirement plan

INNOVANCE, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST

Name: INNOVANCE, INC. - INNOVANCE, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST (2018) Form 5500
Creator: INNOVANCE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOVANCE, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST, INNOVANCE, INC.

INNOVANCE, INC.EIN 41-0980946Plan #001PY 2018

505 WEST FRONT STREET - ALBERT LEA, MN 56007507-377-8910innovance.comLinkedIn201-500 employeesmechanical or industrial engineering

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$49.5M

+8.5% from 2017

Total participants

407

+7.7% from 2017

Average account balance

$121,710

+0.8% from 2017

Annual return

12.59%

-12.28 pp from 2017

Benchmarks

See 2,409 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,409 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$57.72M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

479

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.

99.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$482K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+17.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12

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
ALERUS FINANCIAL, N.A.3 years Filed as: ALERUS FINANCIAL, NA Service code 15 TWO PINE TREE DR SUITE 200 · ARDEN HILLS, MN 55112	Recordkeeping	$0
BREMER BANK NATIONAL ASSOCIATION4+ years Filed as: BREMER TRUST, N.A. Service code 18 · EIN 41-1565461	Trustee (directed); Custodial (other ...	$0

Plan features & details

Pension benefit codes2E2F2H2I2J2P2Q3I3H

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2I
Stock bonus
Stock bonus plan.
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.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$74K

$201 / participant

Other / not subdivided$74K100.0%

% of EOY assets

0.150%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$121,710

$65,118+86.9%

$76,768+58.5%

$55,725+118.4%

Participation rate

100.0%

79.6%+20.4pp

77.0%+23.0pp

70.9%+29.1pp

Annual return

12.59%

-1.27%+13.9pp

2.43%+10.2pp

244.93%-232.3pp

Employer contribution / active EE

$672

$1,941-65.4%

$2,485-72.9%

$2,078-67.7%

Participant deferral / active EE

$2,201

$3,688-40.3%

$3,852-42.8%

$3,356-34.4%

Admin fee / account holder

$182

$116+57.4%

$6,675-97.3%

$115+58.3%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.3 years

Filed as: ALERUS FINANCIAL, NA

Service code 15

TWO PINE TREE DR SUITE 200 · ARDEN HILLS, MN 55112

Recordkeeping

BREMER BANK NATIONAL ASSOCIATION4+ years

Filed as: BREMER TRUST, N.A.

Service code 18 · EIN 41-1565461

Trustee (directed); Custodial (other ...

INNOVANCE, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVANCE, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST

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