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Benchmarking Benfield Electric Company, Inc. 401(K) Profit Sharing Plan in Aberdeen, MD against all plans

 

Of the 347 plans in the Mid Atlantic that provide participant-directed brokerage accounts as investment options, Benfield Electric Company, Inc. 401(K) Profit Sharing Plan in Aberdeen, MD is one of just 12 that are worse than the overall participant averages in each of net income per total participant, average account balance, active-participant contributions per head, employer contributions per active participant, and total administrative expense per participant (the entire set of 5).

Benfield Electric Company, Inc. 401(K) Profit Sharing Plan has these standings among those 347 peer plans plus nationwide comparisons:

  • net income per total participant = $3,831 (57th-lowest)
    the nationwide average is $9,660

  • average account balance = $67,646 (93rd-lowest)
    the nationwide average is $80,169

  • average participant cash contribution per active participant = $4,297 (104th-lowest)
    the nationwide average is $5,898

  • average employer cash contribution per active participant = $1,707 (136th-lowest)
    the nationwide average is $2,765

  • total administrative expense per participant = $405.85 (52nd-highest)
    the nationwide average is $185.18

Peers

with Alliance Shippers, Inc. 401k Savings Plan in Englewood Cliffs, NJ, Maintech 401(K) Retirement Plan and Trust in Cranford, NJ, Elite Spice, Inc. 401(K) Profit Sharing Plan and Trust in Jessup, MD, and Staff-Line, Inc. 401(K) Retirement Savings Plan in Poughkeepsie, NY, and 7 others.

References

  1. provide participant-directed brokerage accounts as investment options. 401(k) plan that provides participant-directed brokerage accounts as investments options. Feature code 2R within Line 8a of Form 5500. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  2. in region. The 9 regions with their corresponding states or other geographic entities are: New England (CT ME MA NH RI VT), Mid Atlantic (DE DC MD NJ NY PA), Great Lakes (IL IN MI OH WI), Plains (IA KS MN MO NE ND SD), Southeast (AL AR FL GA KY LA MS NC SC TN VA WV), Southwest (AZ NM OK TX), Rocky Mountains (CO ID MT UT WY), Far West (AK CA HI NV OR WA), and Outlying Areas (VI PR GU AS MP). Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  3. are worse than the overall participant averages in. Smaller sets are better. (1) The average nationwide value of net income per total participant is $9,660, so worse is below that. Average net income per total participant equals net income, Line 2k from Schedule H, divided by total participants, Line 6f of Form 5500. (2) The average nationwide value of average account balance is $80,169, so worse is below that. Average account balance equals total assets, in Line 1f(b) from Schedule H, divided by total participants, in Line 6f of Form 5500. (3) The average nationwide value of active-participant contributions per head (average participant cash contribution per active participant) is $5,898, so worse is below that. Average participant cash contribution per active participant equals cash contributions from participants, Line 2a(1)(B) from Schedule H, divided by active participants at the end of the plan year, Line 6a(2), Form 5500. (4) The average nationwide value of employer contributions per active participant (average employer cash contribution per active participant) is $2,765, so worse is below that. Average employer cash contribution per active participant equals cash contributions from employers, Line 2a(1)(A) from Schedule H, divided by active participants at the end of the plan year, Line 6a(2), Form 5500. (5) The average nationwide value of total administrative expense per participant is $185.18, so worse is above that. Total administrative expense per participant is a ratio that equals total administrative expenses (Line 2i(5), Schedule H) divided by total participants, i.e. the sum of active, retired, or separated participants who are still living, plus deceased participants whose beneficiaries receive or are entitled to benefits (Line 6f of Form 5500). Some comparison measures have prerequisites that must be satisfied in order to keep their numeric values, otherwise their value becomes N/A. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.