Retirement plan

MIKE ERDMAN MOTORS 401(K) SAVINGS PLAN

Name: MIKE ERDMAN MOTORS, INC. - MIKE ERDMAN MOTORS 401(K) SAVINGS PLAN (2017) Form 5500
Creator: MIKE ERDMAN MOTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIKE ERDMAN MOTORS 401(K) SAVINGS PLAN, MIKE ERDMAN MOTORS, INC.

MIKE ERDMAN MOTORS, INC.EIN 65-0180295Plan #001PY 2017

445 E MERRITT ISLAND CSWY - MERRITT ISLAND, FL 329523502321-453-2050mikeerdmanmotors.comLinkedIn51-200 employeesretail

Prospect flagsLow participationRecently reached 100 employees

How to read this page

Total assets (EOY)

$2.8M

+29.9% from 2016

Total participants

182

+3.4% from 2016

Average account balance

$23,708

-1.2% from 2016

Annual return

13.41%

+8.93 pp from 2016

Benchmarks

See 2,319 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,319 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.47M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

181

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.

90.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$941K

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

+13.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$39

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 1 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290	Contract Administrator	$4,745

Plan features & details

Pension benefit codes2E2G2J2K2R2S2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$5K

$28 / participant

Contract admin$5K100.0%

% of EOY assets

0.171%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: REYNOLDS BONE & GRIESBECK, PLC
Auditor EIN: 620428728
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,708

$51,466-53.9%

$78,778-69.9%

$62,293-61.9%

Participation rate

61.8%

59.8%+2.0pp

69.2%-7.4pp

69.5%-7.8pp

Annual return

13.41%

19.96%-6.5pp

35.62%-22.2pp

28.90%-15.5pp

Employer contribution / active EE

$801

$827-3.2%

$1,986-59.7%

$2,042-60.8%

Participant deferral / active EE

$2,029

$2,147-5.5%

$2,958-31.4%

$3,169-36.0%

Admin fee / account holder

$41

$489-91.7%

$5,134-99.2%

$479-91.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$4,745

MIKE ERDMAN MOTORS 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIKE ERDMAN MOTORS 401(K) SAVINGS 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