Retirement plan

BORRELL ELECTRIC CO., INC. 401(K) PLAN

Name: BORRELL ELECTRIC CO., INC. - BORRELL ELECTRIC CO., INC. 401(K) PLAN (2021) Form 5500
Creator: BORRELL ELECTRIC CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BORRELL ELECTRIC CO., INC. 401(K) PLAN, BORRELL ELECTRIC CO., INC.

BORRELL ELECTRIC CO., INC.EIN 59-3365401Plan #001PY 2021

3601 NORTH NEBRASKA AVENUE - TAMPA, FL 336035011813-223-2727borrellelectric.comLinkedIn51-200 employeesconstruction

Prospect flagsLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$10.9M

+10.8% from 2020

Total participants

186

+3.3% from 2020

Average account balance

$86,639

+6.4% from 2020

Annual return

13.11%

-3.81 pp from 2020

Benchmarks

See 2,981 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,981 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.57M

Not enough data

1 years with asset history on file

Average account balance

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

$103K

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.

122

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.

57.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$704K

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

+15.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$478

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
RIVERO GORDIMER & COMPANY PA1 year Service code 10 ONE TAMPA CITY CENTER, SUITE 2600 · TAMPA, FL 33602	Accounting	$14,050
RESOURCES INVESTMENT ADVISORS LLC1 year Service code 27 4860 COLLEGE BLVD STE 100 · LEAWOOD, KS 66211	Advisory (Plan)	$7,032

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$21K

$130 / participant

Contract admin$21K100.0%

% of EOY assets

0.193%

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: RIVERO, GORDIMER & COMPANY, P.A.
Auditor EIN: 593040705
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$86,639

$77,670+11.5%

$109,163-20.6%

$79,393+9.1%

Participation rate

63.0%

67.8%-4.8pp

75.9%-12.9pp

70.7%-7.7pp

Annual return

13.11%

23.44%-10.3pp

25.75%-12.6pp

116.87%-103.8pp

Employer contribution / active EE

$541

$2,798-80.7%

$3,723-85.5%

$2,428-77.7%

Participant deferral / active EE

$2,977

$3,518-15.4%

$4,654-36.0%

$4,046-26.4%

Admin fee / account holder

$167

$732-77.2%

$6,754-97.5%

$627-73.3%

Provider

Service type

Compensation

RIVERO GORDIMER & COMPANY PA1 year

Service code 10

ONE TAMPA CITY CENTER, SUITE 2600 · TAMPA, FL 33602

Accounting

$14,050

RESOURCES INVESTMENT ADVISORS LLC1 year

Service code 27

4860 COLLEGE BLVD STE 100 · LEAWOOD, KS 66211

Advisory (Plan)

$7,032

BORRELL ELECTRIC CO., INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BORRELL ELECTRIC CO., INC. 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