Retirement plan

BAKER ELECTRIC, INC. 401(K) RETIREMENT SAVINGS PLAN

Name: BAKER ELECTRIC, INC. - BAKER ELECTRIC, INC. 401(K) RETIREMENT SAVINGS PLAN (2019) Form 5500
Creator: BAKER ELECTRIC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAKER ELECTRIC, INC. 401(K) RETIREMENT SAVINGS PLAN, BAKER ELECTRIC, INC.

BAKER ELECTRIC, INC.EIN 95-1853701Plan #005PY 2019

1298 PACIFIC OAKS PLACE - ESCONDIDO, CA 92029760-745-2001bakerelectricsolar.comLinkedIn201-500 employeesconstruction

Other plans on this EIN

3 filings

#002Retirement--#003Retirement--#004Retirement--

Prospect flagsLow participationRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$11.6M

+1045.9% from 2018

Total participants

470

+683.3% from 2018

Average account balance

$36,851

+1.5% from 2018

Annual return

917.55%

+927.29 pp from 2018

Benchmarks

See 1,257 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,257 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.26M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

359

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.

97.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.71M

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

+17.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$347

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 3 by compensation

Provider	Service type	Compensation
NATIONWIDE1 year Service code 15 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$98,925
NATIONAL BENEFIT SERVICES, LLC1 year Filed as: NATIONAL BENEFIT SERVICES Service code 12 · EIN 20-3886993 8523 SOUTH REDWOOD ROAD · WEST JORDAN, UT 84088	Participant loan processing; Recordke...	$5,498
INDEPENDENT FINANCIAL GROUP LLC1 year Filed as: INDEPENDENT FINANCIAL GROUP Service code 17 12671 HIGH BLUFF DR. SUITE 200 · SAN DIEGO, CA 92130	Pension Consulting	$0

Plan features & details

Pension benefit codes2E2J2K2F2G2R3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$16K

$36 / participant

Other / not subdivided$16K100.0%

% of EOY assets

0.134%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: PENSION ASSURANCE LLP
Auditor EIN: 300840934
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,851

$66,650-44.7%

$92,915-60.3%

$67,582-45.5%

Participation rate

64.0%

72.5%-8.5pp

76.0%-12.0pp

71.3%-7.3pp

Annual return

917.55%

92.64%+824.9pp

109.45%+808.1pp

378.57%+539.0pp

Employer contribution / active EE

$687

$2,777-75.2%

$3,653-81.2%

$2,148-68.0%

Participant deferral / active EE

$3,353

$3,160+6.1%

$4,238-20.9%

$3,539-5.3%

Admin fee / account holder

$49

$199-75.2%

$5,796-99.1%

$142-65.3%

Provider

Service type

Compensation

NATIONWIDE1 year

Service code 15 · EIN 31-4156830

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$98,925

NATIONAL BENEFIT SERVICES, LLC1 year

Filed as: NATIONAL BENEFIT SERVICES

Service code 12 · EIN 20-3886993

8523 SOUTH REDWOOD ROAD · WEST JORDAN, UT 84088

Participant loan processing; Recordke...

$5,498

INDEPENDENT FINANCIAL GROUP LLC1 year

Filed as: INDEPENDENT FINANCIAL GROUP

Service code 17

12671 HIGH BLUFF DR. SUITE 200 · SAN DIEGO, CA 92130

Pension Consulting

BAKER ELECTRIC, INC. 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BAKER ELECTRIC, INC. 401(K) 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