Retirement plan

BANCROFT IMPLEMENT, INC. RETIREMENT SAVINGS PLAN

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

BANCROFT IMPLEMENT, INC.EIN 42-0959376Plan #001PY 2023

P.O. BOX 216 - BANCROFT, IA 50517515-885-2319LinkedIn51-200 employeescomputer software

Prospect flagsLow returnsLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$11.2M

+18.4% from 2022

Total participants

157

+9.0% from 2022

Average account balance

$77,522

+10.2% from 2022

Annual return

6.66%

+20.26 pp from 2022

Benchmarks

See 2,346 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,346 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.81M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

141

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.

84.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$998K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+16.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$317

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
EDWARD JONES7 years Service code 25 12555 MANCHESTER RD · ST LOUIS, MO 63131	Directed Trustee	$6,337
AMERICAN FUNDS5 years Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS. Service code 25 · EIN 82-4555287	Directed Trustee	$300

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D3H

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$7K

$46 / participant

Contract admin$7K100.0%

% of EOY assets

0.059%

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: MARTENS & CO.
Auditor EIN: 593823192
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$77,522

$83,045-6.7%

$130,026-40.4%

$71,495+8.4%

Participation rate

91.7%

74.1%+17.6pp

78.5%+13.2pp

67.9%+23.8pp

Annual return

6.66%

20.61%-13.9pp

-137.26%+143.9pp

28.85%-22.2pp

Employer contribution / active EE

$539

$2,623-79.5%

$4,321-87.5%

$2,589-79.2%

Participant deferral / active EE

$1,921

$4,436-56.7%

$5,821-67.0%

$4,291-55.2%

Admin fee / account holder

$46

$1,727-97.3%

$10,608-99.6%

$1,588-97.1%

Provider

Service type

Compensation

EDWARD JONES7 years

Service code 25

12555 MANCHESTER RD · ST LOUIS, MO 63131

Directed Trustee

$6,337

AMERICAN FUNDS5 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS.

Service code 25 · EIN 82-4555287

Directed Trustee

$300

BANCROFT IMPLEMENT, INC. RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANCROFT IMPLEMENT, INC. RETIREMENT 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