Retirement plan

POWER EQUIPMENT COMPANY OF MEMPHIS PROFIT SHARING 401(K) PLAN

Name: POWER EQUIPMENT COMPANY OF MEMPHIS - POWER EQUIPMENT COMPANY OF MEMPHIS PROFIT SHARING 401(K) PLAN (2023) Form 5500
Creator: POWER EQUIPMENT COMPANY OF MEMPHIS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, POWER EQUIPMENT COMPANY OF MEMPHIS PROFIT SHARING 401(K) PLAN, POWER EQUIPMENT COMPANY OF MEMPHIS

POWER EQUIPMENT COMPANY OF MEMPHISEIN 62-0577340Plan #001PY 2023

3050 BROAD AVENUE - MEMPHIS, TN 38112901-327-8261powereq.comLinkedIn11-50 employeesmachinery

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$20.1M

-4.2% from 2022

Total participants

+3.6% from 2022

Average account balance

$345,955

-7.5% from 2022

Annual return

1.36%

+3.30 pp from 2022

Benchmarks

See 14,456 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,456 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.79M

Not enough data

1 years with asset history on file

Average account balance

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

$320K

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.

147.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$767K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+7.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16764

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

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

Expense breakdown

Schedule H Part II

Admin total

$1.8M

$48425 / participant

Other / not subdivided$2M100.0%

% of EOY assets

9.171%

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

$345,955

$80,992+327.1%

$96,534+258.4%

$75,173+360.2%

Participation rate

100.0%

71.8%+28.2pp

76.0%+24.0pp

67.2%+32.8pp

Annual return

1.36%

27.05%-25.7pp

25.88%-24.5pp

160.72%-159.4pp

Employer contribution / active EE

$14,682

$2,283+543.2%

$2,965+395.1%

$2,671+449.7%

Participant deferral / active EE

$1,884

$3,929-52.1%

$4,851-61.2%

$4,126-54.3%

Admin fee / account holder

$31,727

$6,717+372.3%

$8,253+284.4%

$5,651+461.5%

POWER EQUIPMENT COMPANY OF MEMPHIS PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

POWER EQUIPMENT COMPANY OF MEMPHIS 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