2023 Form 5500 filing — Bearing & Drive Solutions 401(K) Retirement Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240812085254NAL0009220609001) for Bearing & Drive Solutions 401(K) Retirement Plan, reported by Bearings & Drives Unlimited, Inc. under EIN 27-2245260 and plan number 001. It reports 297 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240812085254NAL0009220609001
- Filing year
- 2023
- Form type
- 3
- Plan sponsor
- Bearings & Drives Unlimited, Inc.
- EIN
- 27-2245260
- Plan number
- 001
- Location
- Souderton, PA
- Participants
- 297
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $27,658,938
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $27,658,938
- Employer contributions
- $628,029
- Participant contributions
- $1,236,192
- Total income / additions
- $5,225,222
- Benefits paid
- $726,154
- Administrative expenses
- $73,345
- Total expenses
- $799,499
- Net increase / (decrease)
- $4,425,723
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Compass Ion Advisors, LLC | REGISTERED INV ADVISOR | $51,782 | not reported in the loaded dataset |
| The Paragon Alliance Group, LLC | THIRD PARTY ADMINISTRATO | $2,999 | $0 |
| John Hancock Trust Company LLC | RECORDKEEPER | $2,162 | not reported in the loaded dataset |
| John Hancock Life Ins. Company | RECORDKEEPER | $1,849 | $0 |