Retirement plan

BINGHAM COMPANIES PROFIT SHARING AND 401(K) PLAN

Name: BINGHAM EQUIPMENT COMPANY - BINGHAM COMPANIES PROFIT SHARING AND 401(K) PLAN (2016) Form 5500
Creator: BINGHAM EQUIPMENT COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BINGHAM COMPANIES PROFIT SHARING AND 401(K) PLAN, BINGHAM EQUIPMENT COMPANY

BINGHAM EQUIPMENT COMPANYEIN 86-0139051Plan #001PY 2016

1655 SOUTH COUNTRY CLUB DRIVE - MESA, AZ 85210480-969-5516binghamequipment.comLinkedIn51-200 employeesmachinery

Prospect flagsHigh feesCorrective distributions

Top hat statement on fileNQDC

Filed September 20, 2013

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$17.7M

No prior year

Total participants

226

No prior year

Average account balance

$78,265

No prior year

Annual return

8.03%

No prior year

Benchmarks

See 4,221 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,221 peers

Snapshot2016

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Analytics

Total assets (EOY)

Plan-year ending balance

$25.62M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

340

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.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.84M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+15.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$365

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

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
ROWLAND CARMICHAEL ADVISORS2+ years Filed as: ROWLAND/CARMICHAEL ADVISORS INC. Service code 28 · EIN 86-0568468	Investment Management	$79,890
AMERICAN UNITED LIFE INSURANCE CO2+ years Filed as: ONEAMERICA RETIREMENT SERVICES LLC Service code 15 · EIN 46-5378846	Recordkeeping	$34,164
LATEEF MANAGEMENT ASSOCIATES2+ years Service code 28 · EIN 94-6330378	Investment Management	$14,526
FRANKLIN TEMPLETON2+ years Filed as: TEMPLETON INVESTMENTS Service code 51 · EIN 38-3686360	Investment Mgmt Fees	$9,659
BMO HARRIS BANK NA2+ years Service code 19 · EIN 36-2085229	Securities Custodian	$0
BMO HARRIS BANK NA1+ years Filed as: BMO HARRIS BANK, NA Service code 19	Securities Custodian	$0
AMERICAN UNITED LIFE INSURANCE CO1+ years Filed as: ONEAMERICA RETIREMENT SERVICES, LLC Service code 15	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2H2J2K2T3D

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$138K

$1192 / participant

Investment mgmt$104K75.3%
Other / not subdivided$34K24.7%

% of EOY assets

0.782%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: HENRY & HORNE, LLP
Auditor EIN: 860133881
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$78,265

$60,165+30.1%

$74,183+5.5%

$55,167+41.9%

Participation rate

100.0%

74.2%+25.8pp

76.6%+23.4pp

69.0%+31.0pp

Annual return

8.03%

10.00%-2.0pp

17.74%-9.7pp

169.23%-161.2pp

Employer contribution / active EE

$2,377

$1,600+48.6%

$2,370+0.3%

$1,963+21.1%

Participant deferral / active EE

$2,875

$2,973-3.3%

$3,550-19.0%

$3,054-5.9%

Admin fee / account holder

$612

$419+45.9%

$5,586-89.0%

$504+21.4%

Provider

Service type

Compensation

ROWLAND CARMICHAEL ADVISORS2+ years

Filed as: ROWLAND/CARMICHAEL ADVISORS INC.

Service code 28 · EIN 86-0568468

Investment Management

$79,890

AMERICAN UNITED LIFE INSURANCE CO2+ years

Filed as: ONEAMERICA RETIREMENT SERVICES LLC

Service code 15 · EIN 46-5378846

Recordkeeping

$34,164

LATEEF MANAGEMENT ASSOCIATES2+ years

Service code 28 · EIN 94-6330378

Investment Management

$14,526

FRANKLIN TEMPLETON2+ years

Filed as: TEMPLETON INVESTMENTS

Service code 51 · EIN 38-3686360

Investment Mgmt Fees

$9,659

BMO HARRIS BANK NA2+ years

Service code 19 · EIN 36-2085229

Securities Custodian

BMO HARRIS BANK NA1+ years

Filed as: BMO HARRIS BANK, NA

Service code 19

Securities Custodian

AMERICAN UNITED LIFE INSURANCE CO1+ years

Filed as: ONEAMERICA RETIREMENT SERVICES, LLC

Service code 15

Recordkeeping

BINGHAM COMPANIES PROFIT SHARING AND 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BINGHAM COMPANIES PROFIT SHARING AND 401(K) PLAN

Top hat statement on fileNQDC

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