Burnips Equipment Company401(k)
BURNIPS EQUIPMENT COMPANY 401(K) PLAN · DORR, MI · plan year 2024
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Burnips Equipment Company reported $50,344 in plan administrative expenses for 2024: 0.77% of average plan assets, above the peer median. Employer contributions averaged $2,165 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.13% to 0.77%. The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other other services employers. By assets it is among the smaller plans on file in Michigan (1,770th of 2,619), and 1,974th of 3,341 in other services. In 2024, employees put in $2.25 for every $1.00 the employer contributed; active participation has grown from 132 to 157 since 2022.
Burnips Equipment Company's 2024 employer contribution ran above the $1,313 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 381992969 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.