Retirement plan

HEAVY MACHINES, LLC 401(K) PROFIT SHARING PLAN

Name: HEAVY MACHINES, LLC - HEAVY MACHINES, LLC 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: HEAVY MACHINES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEAVY MACHINES, LLC 401(K) PROFIT SHARING PLAN, HEAVY MACHINES, LLC

HEAVY MACHINES, LLCEIN 62-0850651Plan #001PY 2022

3926 E. RAINES ROAD - MEMPHIS, TN 381186936901-260-2200heavymachinesinc.comLinkedIn51-200 employeesmachinery

Prospect flagsLow returnsHigh cashFailed to transmit contributions

How to read this page

Total assets (EOY)

$13.3M

-16.3% from 2021

Total participants

266

+8.1% from 2021

Average account balance

$51,707

-21.5% from 2021

Annual return

-18.14%

-24.83 pp from 2021

Benchmarks

See 2,291 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,291 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.73M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

326

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.

96.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.96M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+15.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$80

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
CAMBRIDGE INVESTMENT RESEARCH1 year Filed as: CAMBRIDGE INVESTMENT RESEARCH, INC. Service code 27 · EIN 42-1445429	Advisory (Plan)	$8,500
STRATEGIC ADVISORS, INC.7+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$7,722
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Filed as: FIDELITY INVESTMENTS INST. OPS CO. Service code 37 · EIN 04-2647786 P.O. BOX 770002 · CINCINNATI, OH 452770027	Loan Processing	$2,631
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Filed as: FIDELITY INVESTMENTS INST. OPS. CO. Service code 60	Sub-TA Fees	$0

Plan features & details

Pension benefit codes2J2K2E2F2G3D

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.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$19K

$116 / participant

Investment mgmt$8K41.0%
Other / not subdivided$11K59.0%

% of EOY assets

0.141%

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: HILL, BARTH AND KING, LLC
Auditor EIN: 341897225
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$51,707

$86,655-40.3%

$119,608-56.8%

$66,930-22.7%

Participation rate

95.1%

75.6%+19.5pp

79.3%+15.8pp

69.8%+25.3pp

Annual return

-18.14%

-8.00%-10.1pp

-14.98%-3.2pp

1.57%-19.7pp

Employer contribution / active EE

$984

$2,536-61.2%

$4,232-76.8%

$2,545-61.3%

Participant deferral / active EE

$5,878

$4,358+34.9%

$5,601+4.9%

$4,238+38.7%

Admin fee / account holder

$73

$755-90.3%

$10,326-99.3%

$593-87.7%

Provider

Service type

Compensation

CAMBRIDGE INVESTMENT RESEARCH1 year

Filed as: CAMBRIDGE INVESTMENT RESEARCH, INC.

Service code 27 · EIN 42-1445429

Advisory (Plan)

$8,500

STRATEGIC ADVISORS, INC.7+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$7,722

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Filed as: FIDELITY INVESTMENTS INST. OPS CO.

Service code 37 · EIN 04-2647786

P.O. BOX 770002 · CINCINNATI, OH 452770027

Loan Processing

$2,631

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Filed as: FIDELITY INVESTMENTS INST. OPS. CO.

Service code 60

Sub-TA Fees

HEAVY MACHINES, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEAVY MACHINES, LLC 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