Retirement plan

INGERSOLL RAND RETIREMENT SAVINGS PLAN

Name: INDUSTRIAL TECHNOLOGIES AND SERVICES, LLC - INGERSOLL RAND RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: INDUSTRIAL TECHNOLOGIES AND SERVICES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INGERSOLL RAND RETIREMENT SAVINGS PLAN, INDUSTRIAL TECHNOLOGIES AND SERVICES, LLC

INDUSTRIAL TECHNOLOGIES AND SERVICES, LLCEIN 76-0419383Plan #002PY 2023

525 HARBOUR PLACE DRIVE #600, DEPARTMENT 10 - DAVIDSON, NC 28036888-922-0016

Other plans on this EIN

3 filings

#001Retirement-$35.2M assets #006Retirement-$2.1M assets #003Retirement--

Prospect flagsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$1279.8M

+19.5% from 2022

Total participants

7,749

+3.3% from 2022

Average account balance

$169,036

+14.9% from 2022

Annual return

23.53%

+39.05 pp from 2022

Benchmarks

See 138 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort138 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.40B

Not enough data

1 years with asset history on file

Average account balance

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

$184K

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.

7,602

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.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$73.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+18.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$79

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 5 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL5 years Service code 37 · EIN 04-2647786	Loan Processing	$322,330
STRATEGIC ADVISORS, INC.5 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$208,481
BUCK GLOBAL, LLC2 years Service code 16 · EIN 83-1116912	Consulting	$83,273
WITHUMSMITH+BROWN, PC3 years Filed as: RUBIN BROWN LLP Service code 10 · EIN 43-0765316	Accounting	$42,600
FOLEY & LARDNER LLP3 years Service code 29 · EIN 39-0473800	Legal	$27,525

Plan features & details

Pension benefit codes2E2G2J2K2R3H

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.
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

2 tripped

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$684K

$131 / participant

Recordkeeping$318K46.4%
Investment mgmt$209K30.6%
Legal$28K4.0%
Contract admin$4K0.6%
Other / not subdivided$126K18.4%

% of EOY assets

0.053%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RUBINBROWN LLP
Auditor EIN: 430765316
Audit fees: $42,600
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$169,036

$118,464+42.7%

$96,534+75.1%

$103,590+63.2%

Participation rate

96.6%

89.0%+7.6pp

76.0%+20.6pp

73.3%+23.2pp

Annual return

23.53%

18.79%+4.7pp

25.88%-2.4pp

33.13%-9.6pp

Employer contribution / active EE

$5,045

$4,210+19.8%

$2,965+70.1%

$3,213+57.0%

Participant deferral / active EE

$7,784

$7,277+7.0%

$4,851+60.5%

$5,214+49.3%

Admin fee / account holder

$90

$81+11.4%

$8,253-98.9%

$114-20.8%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL5 years

Service code 37 · EIN 04-2647786

Loan Processing

$322,330

STRATEGIC ADVISORS, INC.5 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$208,481

BUCK GLOBAL, LLC2 years

Service code 16 · EIN 83-1116912

Consulting

$83,273

WITHUMSMITH+BROWN, PC3 years

Filed as: RUBIN BROWN LLP

Service code 10 · EIN 43-0765316

Accounting

$42,600

FOLEY & LARDNER LLP3 years

Service code 29 · EIN 39-0473800

Legal

$27,525

INGERSOLL RAND RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INGERSOLL RAND RETIREMENT 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