Retirement plan

CARRIER PROCESS EQUIPMENT GROUP, INC. 401(K) PLAN AND TRUST

Name: CARRIER PROCESS EQUIPMENT GROUP, INC. - CARRIER PROCESS EQUIPMENT GROUP, INC. 401(K) PLAN AND TRUST (2023) Form 5500
Creator: CARRIER PROCESS EQUIPMENT GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CARRIER PROCESS EQUIPMENT GROUP, INC. 401(K) PLAN AND TRUST, CARRIER PROCESS EQUIPMENT GROUP, INC.

CARRIER PROCESS EQUIPMENT GROUP, INC.EIN 81-2418317Plan #003PY 2023

P.O. BOX 37070 - LOUISVILLE, KY 402337070502-969-3171

Other plans on this EIN

2 filings

#002Retirement-$80.3M assets #001Retirement-$5.0M assets

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$21.6M

+3.8% from 2022

Total participants

285

+6.7% from 2022

Average account balance

$78,147

-4.5% from 2022

Annual return

16.02%

+31.88 pp from 2022

Benchmarks

See 4,139 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,139 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$26.39M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

298

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.

95.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.09M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+17.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$288

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

See the 7-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
UBS FINANCIAL SERVICES INC5+ years Service code 27 315 DEADERICK ST 5TH FL · NASHVILLE, TN 37238	Advisory (Plan)	$34,253
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$10,269
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP LLC Service code 28 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Investment Management	$2,315

Plan features & details

Pension benefit codes2G2J2K3H2E2F2S3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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 transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$41K

$204 / participant

Investment mgmt$37K88.6%
Contract admin$5K11.4%

% of EOY assets

0.191%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: DEAN DORTON
Auditor EIN: 273858252
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$78,147

$76,050+2.8%

$96,544-19.1%

$71,457+9.4%

Participation rate

96.0%

74.4%+21.6pp

76.0%+20.1pp

67.9%+28.1pp

Annual return

16.02%

22.81%-6.8pp

25.84%-9.8pp

28.85%-12.8pp

Employer contribution / active EE

$2,244-100.0%

$2,965-100.0%

$2,588-100.0%

Participant deferral / active EE

$4,646

$4,215+10.2%

$4,851-4.2%

$4,289+8.3%

Admin fee / account holder

$149

$2,707-94.5%

$8,252-98.2%

$1,587-90.6%

Provider

Service type

Compensation

UBS FINANCIAL SERVICES INC5+ years

Service code 27

315 DEADERICK ST 5TH FL · NASHVILLE, TN 37238

Advisory (Plan)

$34,253

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$10,269

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP LLC

Service code 28

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Investment Management

$2,315

CARRIER PROCESS EQUIPMENT GROUP, INC. 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CARRIER PROCESS EQUIPMENT GROUP, INC. 401(K) PLAN AND TRUST

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