Retirement plan

SPX RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN

Name: SPX ENTERPRISES, LLC - SPX RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN (2023) Form 5500
Creator: SPX ENTERPRISES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPX RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN, SPX ENTERPRISES, LLC

SPX ENTERPRISES, LLCEIN 88-1769617Plan #005PY 2023

6325 ARDREY KELL ROAD, SUITE 400 - CHARLOTTE, NC 28277980-474-3700

Other plans on this EIN

2 filings

#003Retirement-$164.8M assets #206Retirement-$6.6M assets

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$825.6M

-16.8% from 2023

Total participants

7,001

-5.8% from 2023

Average account balance

$147,115

-16.5% from 2023

Annual return

28.16%

-43.73 pp from 2023

Benchmarks

See 809 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort809 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$969.38M

Not enough data

1 years with asset history on file

Average account balance

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

$164K

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.

5,921

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.

74.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$31.59M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+25.64%

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 7 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Filed as: FIDELITY INV INSTIT OPERATIONS CO Service code 37 · EIN 04-2647786	Loan Processing	$183,779
MERCER2+ years Service code 16 · EIN 30-0282430	Consulting	$114,817
PLANTE & MORAN, PLLC2+ years Service code 10 · EIN 38-1357951	Accounting	$44,600
JENNER & BLOCK LLP1 year Filed as: JENNER AND BLOCK LLC Service code 29 · EIN 36-2192554	Legal	$29,393
WILLIS TOWERS WATSON US LLC2+ years Service code 16 · EIN 53-0181291	Consulting	$11,072
BLUE CHIP RETIREMENT PLANS, INC.1 year Filed as: BLUE & CO. LLC Service code 10 · EIN 35-1178661	Accounting	$5,000
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Filed as: FIDELITY INV INST OPERATIONS CO. Service code 60	Sub-TA Fees	$0

Plan features & details

Pension benefit codes3H2E2F2G2J2K2O2T

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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$389K

$110 / participant

Recordkeeping$231K59.5%
Legal$29K7.6%
Contract admin$2K0.4%
Other / not subdivided$126K32.5%

% of EOY assets

0.047%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PLANTE & MORAN PLLC
Auditor EIN: 381357951
Audit fees: $44,600
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$147,115

$104,544+40.7%

$96,564+52.4%

$80,187+83.5%

Participation rate

60.6%

86.4%-25.7pp

76.0%-15.3pp

72.9%-12.3pp

Annual return

28.16%

21.79%+6.4pp

25.89%+2.3pp

40.40%-12.2pp

Employer contribution / active EE

$2,773

$3,527-21.4%

$2,967-6.5%

$2,980-6.9%

Participant deferral / active EE

$4,937

$6,170-20.0%

$4,852+1.8%

$5,016-1.6%

Admin fee / account holder

$69

$107-35.2%

$8,256-99.2%

$145-52.2%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Filed as: FIDELITY INV INSTIT OPERATIONS CO

Service code 37 · EIN 04-2647786

Loan Processing

$183,779

MERCER2+ years

Service code 16 · EIN 30-0282430

Consulting

$114,817

PLANTE & MORAN, PLLC2+ years

Service code 10 · EIN 38-1357951

Accounting

$44,600

JENNER & BLOCK LLP1 year

Filed as: JENNER AND BLOCK LLC

Service code 29 · EIN 36-2192554

Legal

$29,393

WILLIS TOWERS WATSON US LLC2+ years

Service code 16 · EIN 53-0181291

Consulting

$11,072

BLUE CHIP RETIREMENT PLANS, INC.1 year

Filed as: BLUE & CO. LLC

Service code 10 · EIN 35-1178661

Accounting

$5,000

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Filed as: FIDELITY INV INST OPERATIONS CO.

Service code 60

Sub-TA Fees

SPX RETIREMENT SAVINGS AND STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPX RETIREMENT SAVINGS AND STOCK OWNERSHIP 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