Iowa › Construction › 500 to 999 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Baker Group 401(k) and Employee Stock Ownership Plan
Sponsored by Baker Mechanical, Inc., Ankeny, IA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Baker Group 401(k) and Employee Stock Ownership Plan is an ESOP with a 401(k) feature sponsored by Baker Mechanical, Inc. of Ankeny, Iowa. For the plan year ending 30 Sep 2025 it reported 552 participants, 439 of them active, and net assets of $228M.
Net assets came to $412,637 per participant, well above the $46,267 median for defined contribution plans with 500 to 999 participants and well above the $54,962 median for defined contribution plans in construction. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $2.7M during the year, or $6,210 per active participant against a same-size median of $1,934; participants contributed $4.8M and $2.6M arrived as rollovers and other contributions. Benefits paid out totalled $2.8M.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $198K: $359 per participant, well above the same-size median of $113. Administrative expenses charged to the plan were $132K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $8.7M in 2012 to $228M in 2024 (up 2523%), and participants from 137 to 552 (up 303%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $412,637 | $46,267 | $54,962 | $53,102 |
| Employer contributions per active participant | $6,210 | $1,934 | $2,728 | $2,175 |
| Schedule C compensation per participant | $359 | $113 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.09% | 0.25% | 0.33% | 0.26% |
| Administrative expenses per participant | $240 | $109 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 500 to 999 participants (10,588 plans), construction (4,204) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 552 | $228M | $412,638 | $2.7M | $4.8M | $198K |
| 2023 | 491 | $63.5M | $129,367 | $2.5M | $4.4M | $173K |
| 2022 | 443 | $7.5M | $16,916 | $2.3M | $3.7M | $145K |
| 2021 | 405 | −$24.0M | −$59,235 | $2.5M | $3.1M | $151K |
| 2020 | 315 | −$22.7M | −$71,987 | $675K | $2.3M | $151K |
| 2019 | 260 | $26.4M | $101,731 | $0 | $1.9M | $136K |
| 2018 | 231 | $19.3M | $83,584 | $694K | $1.4M | $4,000 |
| 2017 | 207 | $19.6M | $94,618 | $604K | $1.2M | $4,000 |
| 2016 | 200 | $15.6M | $77,840 | $579K | $1.1M | $25K |
| 2015 | 174 | $13.0M | $74,443 | $485K | $935K | $19K |
| 2014 | 174 | $12.6M | $72,178 | $441K | $811K | $1,000 |
| 2013 | 156 | $11.4M | $72,891 | $363K | $673K | $1,000 |
| 2012 | 137 | $8.7M | $63,394 | $308K | $581K | $1,000 |
| 2009 | 108 | — | — | — | — | — |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$63,518,794
- Employer contributions$2,726,313
- Participant contributions$4,832,414
- Rollovers and other contributions$2,623,294
- Total contributions$10,182,021
- Total income, including investment results$168,486,846
- Benefits paid$2,822,812
- Administrative expenses$132,390
- Total expenses$4,229,904
- Net income$164,256,942
- Net transfers$0
- Net assets, end of year$227,775,736
Participants
- Active participants439
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits111
- Participants with account balances530
- Total participants, end of year552
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Principal Life Insurance Company | Contract Administrator; Participant loan processing | $132,360 | $0 |
| UBS Financial Services Inc. | Investment advisory (plan) | $0 | $35,496 |
| DSM Financial | Investment advisory (plan) | $0 | $30,537 |
| Morningstar Investment Management L | Investment advisory (participants) | $0 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Contract administrator fees$132,361
- Trustee and custodial fees$29
- Total administrative expenses$132,390
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Employer securities$217M · 78.0%
- Registered investment companies (mutual funds)$58.5M · 21.1%
- Pooled separate accounts$1.5M · 0.5%
- Participant loans$457K · 0.2%
- Cash (interest and non-interest bearing)$346K · 0.1%
- Common/collective trusts$152K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBergankdv, Ltd.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,500,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2IStock bonus2JCode section 401(k) feature2PLeveraged ESOP2QThe employer maintaining this ESOP is an S corporation2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3IPlan requiring that all or part of employer contributions be invested and held in employer securities
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238220: Plumbing, Heating, & Air-Conditioning Contractors.
Similar plans in Iowa
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Sheet Metal Workers Local Union No. 263 Retirement Savings Plan | Board of Trustees of Sheet Metal Workers Local Union No. 263 Retiremen | 576 | $42.3M | $73,516 |
| Central Iowa Sheet Metal Workers Supplemental Retirement 401(k) Plan | Central Iowa Sheet Metal Workers Supplemental Retirement 401(k) | 526 | $61.8M | $117,494 |
| Iron Workers Local No. 67 Defined Contribution Fund | Iron Workers Local No. 67 Defined Contribution Fund | 771 | $42.1M | $54,567 |
| Klinger Companies, L.L.C. 401(k) Plan | Klinger Companies, L.L.C. | 409 | $75.1M | $183,706 |
| Iowa Ironworkers Heavy Highway Defined Contribution Plan | Iowa Ironworkers Heavy Highway Defined Contribution Plan | 784 | $29.1M | $37,071 |
| Scintilla 401(k) Plan | Scintilla Eg Holdings, Inc. | 406 | $31.0M | $76,266 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Baker Group 401(k) and Employee Stock Ownership Plan?
552 participants at the end of the plan year ending 30 Sep 2025, of whom 439 were active employees, with net assets of $227,775,736. Among defined contribution plans that places it in the 500 to 999 participants band, which held 10,588 plans in plan year 2024.
What does Baker Mechanical, Inc. contribute per participant?
The filing reports $2,726,313 in employer contributions for the year, which is $6,210 per active participant; the median for plans of the same type and size was $1,934 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $198,393 in compensation to service provider organisations, $359 per participant or 0.09% of net assets. The same-size median among plans reporting any Schedule C compensation was $113 per participant. Administrative expenses on Schedule H were $132,390. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Baker Mechanical, Inc.. Recordkeeping or administration: Principal Life Insurance Company. Investment advisory or management: UBS Financial Services Inc., DSM Financial and Morningstar Investment Management L. The financial statements were audited by Bergankdv, Ltd.. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Oct 2024 to 30 Sep 2025, received by the Department of Labor on 15 Jul 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 42-0890441, plan 001, received 15 Jul 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.