Retirement plan

BACHMAN, INC. 401(K) AND PROFIT SHARING PLAN

Name: BACHMAN, INC. - BACHMAN, INC. 401(K) AND PROFIT SHARING PLAN (2021) Form 5500
Creator: BACHMAN, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BACHMAN, INC. 401(K) AND PROFIT SHARING PLAN, BACHMAN, INC.

BACHMAN, INC.EIN 45-0398385Plan #002PY 2021

360 S 36TH ST. - FARGO, ND 58103701-237-6601

Other plans on this EIN

1 filing

#001Retirement-$2.7M assets

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$3.4M

+23.3% from 2020

Total participants

+13.2% from 2020

Average account balance

$78,725

+49.1% from 2020

Annual return

21.46%

+5.55 pp from 2020

Benchmarks

See 16,659 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort16,659 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.39M

Not enough data

1 years with asset history on file

Average account balance

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

$79K

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.

81.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$283K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+21.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5415

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

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$233K

$4393 / participant

Other / not subdivided$233K100.0%

% of EOY assets

6.878%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$78,725

$78,682+0.1%

$109,188-27.9%

$85,851-8.3%

Participation rate

67.9%

68.3%-0.4pp

75.9%-8.0pp

69.3%-1.4pp

Annual return

21.46%

25.09%-3.6pp

25.76%-4.3pp

318.63%-297.2pp

Employer contribution / active EE

$1,795

$2,734-34.3%

$3,723-51.8%

$2,565-30.0%

Participant deferral / active EE

$3,542

$3,468+2.2%

$4,654-23.9%

$3,952-10.4%

Admin fee / account holder

$5,415

$5,470-1.0%

$6,755-19.8%

$6,261-13.5%

BACHMAN, INC. 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BACHMAN, INC. 401(K) AND 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