Retirement plan

WHITAKER BROTHERS BUSINESS MACHINES, INC. & WHITAKER PARKING SYSTEMS, INC. 401(K) PROFIT SHARING PLAN

Name: WHITAKER BROTHERS BUSINESS MACHINES - WHITAKER BROTHERS BUSINESS MACHINES, INC. & WHITAKER PARKING SYSTEMS, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: WHITAKER BROTHERS BUSINESS MACHINES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WHITAKER BROTHERS BUSINESS MACHINES, INC. & WHITAKER PARKING SYSTEMS, INC. 401(K) PROFIT SHARING PLAN, WHITAKER BROTHERS BUSINESS MACHINES

WHITAKER BROTHERS BUSINESS MACHINESEIN 52-1357073Plan #002PY 2024

3 TAFT COURT - ROCKVILLE, MD 20850301-354-3000

Prospect flagsHigh feesHigh assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$14.6M

+17.4% from 2023

Total participants

-6.0% from 2023

Average account balance

$340,322

+28.3% from 2023

Annual return

19.16%

-3.20 pp from 2023

Benchmarks

See 8,993 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort8,993 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.63M

Not enough data

1 years with asset history on file

Average account balance

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

$340K

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.

122.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$206K

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

+19.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13052

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 codes2E2F2G2J2T3B3D3H

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.
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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$561K

$16035 / participant

Other / not subdivided$561K100.0%

% of EOY assets

3.835%

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

$340,322

$101,795+234.3%

$165,100+106.1%

$80,959+320.4%

Participation rate

88.6%

71.8%+16.7pp

78.6%+9.9pp

67.7%+20.9pp

Annual return

19.16%

16.73%+2.4pp

70.21%-51.0pp

35.67%-16.5pp

Employer contribution / active EE

$98

$2,954-96.7%

$4,348-97.7%

$2,757-96.4%

Participant deferral / active EE

$5,786

$4,476+29.3%

$6,035-4.1%

$4,300+34.6%

Admin fee / account holder

$13,052

$8,221+58.8%

$12,696+2.8%

$6,925+88.5%

WHITAKER BROTHERS BUSINESS MACHINES, INC. & WHITAKER PARKING SYSTEMS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WHITAKER BROTHERS BUSINESS MACHINES, INC. & WHITAKER PARKING SYSTEMS, INC. 401(K) 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