Retirement plan

PROGRESSIVE RAIL INCORPORATED EMPLOYEE SAVINGS PLAN

Name: PROGRESSIVE RAIL INCORPORATED - PROGRESSIVE RAIL INCORPORATED EMPLOYEE SAVINGS PLAN (2021) Form 5500
Creator: PROGRESSIVE RAIL INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROGRESSIVE RAIL INCORPORATED EMPLOYEE SAVINGS PLAN, PROGRESSIVE RAIL INCORPORATED

PROGRESSIVE RAIL INCORPORATEDEIN 41-1830488Plan #003PY 2021

21778 HIGHVIEW AVENUE - LAKEVILLE, MN 55044952-985-7245progressiverail.comLinkedIn51-200 employeestransportation/trucking/railroad

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$4.9M

+23.2% from 2020

Total participants

133

-6.3% from 2020

Average account balance

$50,416

+29.6% from 2020

Annual return

14.38%

-1.69 pp from 2020

Benchmarks

See 1,069 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort1,069 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.88M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

109.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$496K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+18.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3992

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

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Service providers

Top 10 of 17 by compensation

Provider	Service type	Compensation
MASSACHUSSETTS MUTUAL LIFE INSURANC4 years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$21,450
MIDWEST PENSION & PROFIT SHARING SE4 years Filed as: MIDWEST PENSION AND PROFIT SHG SVCS Service code 13	Contract Administrator	$4,334
AB FUNDS4 years Service code 52 · EIN 13-4071393	Indirect Investment Fees	$0
ALGER4 years Service code 52 · EIN 13-2665689	Indirect Investment Fees	$0
AMERICAN CENTURY4 years Service code 52 · EIN 43-0821857	Indirect Investment Fees	$0
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
DELAWARE INVESTMENTS4 years Service code 52 · EIN 23-2651520	Indirect Investment Fees	$0
DWS FUNDS2 years Service code 52 · EIN 13-2661231	Indirect Investment Fees	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC4 years Filed as: ENVESTNET RETIREMENT SOLUTIONS LLC Service code 27 · EIN 61-1732930	Advisory (Plan)	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC2 years Filed as: ENVESTNET RETIREMENT SOULUTIONS LLC Service code 27	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3H

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.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$22K

$188 / participant

Investment mgmt$21K94.3%
Other / not subdivided$1K5.7%

% of EOY assets

0.445%

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: BOYUM & BARENSCHEER PLLP
Auditor EIN: 416192096
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,416

$60,788-17.1%

$85,705-41.2%

$79,389-36.5%

Participation rate

69.0%

62.1%+6.8pp

69.9%-0.9pp

70.7%-1.7pp

Annual return

14.38%

16.57%-2.2pp

21.49%-7.1pp

116.89%-102.5pp

Employer contribution / active EE

$1,869

$1,664+12.3%

$2,619-28.6%

$2,428-23.0%

Participant deferral / active EE

$2,922

$2,920+0.1%

$3,924-25.5%

$4,046-27.8%

Admin fee / account holder

$225

$439-48.8%

$6,877-96.7%

$626-64.1%

Provider

Service type

Compensation

MASSACHUSSETTS MUTUAL LIFE INSURANC4 years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$21,450

MIDWEST PENSION & PROFIT SHARING SE4 years

Filed as: MIDWEST PENSION AND PROFIT SHG SVCS

Service code 13

Contract Administrator

$4,334

AB FUNDS4 years

Service code 52 · EIN 13-4071393

Indirect Investment Fees

ALGER4 years

Service code 52 · EIN 13-2665689

Indirect Investment Fees

AMERICAN CENTURY4 years

Service code 52 · EIN 43-0821857

Indirect Investment Fees

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

DELAWARE INVESTMENTS4 years

Service code 52 · EIN 23-2651520

Indirect Investment Fees

DWS FUNDS2 years

Service code 52 · EIN 13-2661231

Indirect Investment Fees

ENVESTNET RETIREMENT SOLUTIONS, LLC4 years

Filed as: ENVESTNET RETIREMENT SOLUTIONS LLC

Service code 27 · EIN 61-1732930

Advisory (Plan)

ENVESTNET RETIREMENT SOLUTIONS, LLC2 years

Filed as: ENVESTNET RETIREMENT SOULUTIONS LLC

Service code 27

Advisory (Plan)

PROGRESSIVE RAIL INCORPORATED EMPLOYEE SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROGRESSIVE RAIL INCORPORATED EMPLOYEE SAVINGS 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