Retirement plan

FORTIS FIRE & SAFETY INC 401(K) PROFIT SHARING PLAN

Name: FORTIS FIRE & SAFETY INC. - FORTIS FIRE & SAFETY INC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: FORTIS FIRE & SAFETY INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FORTIS FIRE & SAFETY INC 401(K) PROFIT SHARING PLAN, FORTIS FIRE & SAFETY INC.

FORTIS FIRE & SAFETY INC.EIN 87-0854019Plan #001PY 2024

1515 E. WOODFIELD ROAD, SUITE 630 - SCHAUMBURG, IL 60173800-773-3473fortisfire.comLinkedIn1-10 employeesfacilities services

Prospect flagsHigh cashLow participationCorrective distributions

How to read this page

Total assets (EOY)

$12.3M

+50.8% from 2023

Total participants

678

+98.2% from 2023

Average account balance

$42,148

+25.1% from 2023

Annual return

52.96%

+7.33 pp from 2023

Benchmarks

See 1,563 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,563 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.35M

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

293

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.

37.4%

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

$3K

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

+52.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$159

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 2 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY3+ years Service code 15 · EIN 01-0233346	Recordkeeping	$26,188
MMA SECURITIES LLC2 years Filed as: MMA SECURITIES Service code 27 1166 AVENUE OF THE AMERICAS · NEW YORK, NY 10036	Advisory (Plan)	$20,457

Plan features & details

Pension benefit codes2E2G2J2K2T3D3H2S

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.
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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$47K

$76 / participant

Investment mgmt$21K45.9%
Contract admin$25K54.1%

% of EOY assets

0.378%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,148

$82,979-49.2%

$102,383-58.8%

$77,714-45.8%

Participation rate

37.4%

71.5%-34.1pp

74.5%-37.1pp

70.6%-33.2pp

Annual return

52.96%

19.11%+33.8pp

24.94%+28.0pp

31.26%+21.7pp

Employer contribution / active EE

$1,181

$3,554-66.8%

$3,870-69.5%

$2,727-56.7%

Participant deferral / active EE

$2,000

$4,109-51.3%

$5,060-60.5%

$4,649-57.0%

Admin fee / account holder

$159

$639-75.1%

$8,391-98.1%

$433-63.3%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY3+ years

Service code 15 · EIN 01-0233346

Recordkeeping

$26,188

MMA SECURITIES LLC2 years

Filed as: MMA SECURITIES

Service code 27

1166 AVENUE OF THE AMERICAS · NEW YORK, NY 10036

Advisory (Plan)

$20,457

FORTIS FIRE & SAFETY INC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FORTIS FIRE & SAFETY INC 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