Retirement plan

THE IFP GROUP OF COMPANIES PROFIT SHARING 401(K) PLAN

Name: IFP MOTION SOLUTIONS - THE IFP GROUP OF COMPANIES PROFIT SHARING 401(K) PLAN (2024) Form 5500
Creator: IFP MOTION SOLUTIONS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE IFP GROUP OF COMPANIES PROFIT SHARING 401(K) PLAN, IFP MOTION SOLUTIONS

IFP MOTION SOLUTIONSEIN 42-1000175Plan #001PY 2024

1610 BLAIRS FERRY RD NE - CEDAR RAPIDS, IA 52402319-395-7000ifpusa.comLinkedIn51-200 employeesindustrial automation

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$38.1M

+32.4% from 2023

Total participants

183

+5.8% from 2023

Average account balance

$215,164

+29.5% from 2023

Annual return

27.44%

+13.73 pp from 2023

Benchmarks

See 2,355 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,355 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Analytics

Total assets (EOY)

Plan-year ending balance

$46.82M

Not enough data

1 years with asset history on file

Average account balance

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

$218K

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.

215

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.

90.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.84M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+16.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$404

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 3 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL8 years Service code 60 · EIN 04-2647786	Sub-TA Fees	$35,178
PRIME CAPITAL INVESTMENT ADVISORS5 years Service code 27 · EIN 82-1364595	Advisory (Plan)	$32,104
BERGANKDV LTD2 years Filed as: BERGANKDV, LTD. Service code 10 · EIN 41-1431613	Accounting	$16,900

Plan features & details

Pension benefit codes2F2G2J2K2S2T2E3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$84K

$547 / participant

Recordkeeping$35K41.4%
Investment mgmt$32K38.1%
Contract admin$3000.4%
Other / not subdivided$17K20.1%

% of EOY assets

0.221%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BERGANKDV, LTD.
Auditor EIN: 411431613
Audit fees: $16,900
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$215,164

$88,083+144.3%

$164,813+30.6%

$74,495+188.8%

Participation rate

96.1%

73.0%+23.1pp

78.6%+17.5pp

67.2%+28.9pp

Annual return

27.44%

17.26%+10.2pp

69.93%-42.5pp

1364.94%-1337.5pp

Employer contribution / active EE

$12,617

$2,593+386.6%

$4,341+190.6%

$2,623+381.0%

Participant deferral / active EE

$10,116

$4,498+124.9%

$6,031+67.7%

$4,346+132.8%

Admin fee / account holder

$476

$2,234-78.7%

$12,690-96.3%

$1,942-75.5%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL8 years

Service code 60 · EIN 04-2647786

Sub-TA Fees

$35,178

PRIME CAPITAL INVESTMENT ADVISORS5 years

Service code 27 · EIN 82-1364595

Advisory (Plan)

$32,104

BERGANKDV LTD2 years

Filed as: BERGANKDV, LTD.

Service code 10 · EIN 41-1431613

Accounting

$16,900

THE IFP GROUP OF COMPANIES PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE IFP GROUP OF COMPANIES PROFIT SHARING 401(K) 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