401(k) · DOL Form 5500 · 2024

Bd of Trustees Automobile Mechanics Local No 701 Defined Contribution 401(k) Plan

Data updated 2026-08-11

$83M
Total assets
3,446
Participants
89th
Percentile by assets
$24,059
Avg per participant
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Official DOL plan name: Mechanics Local No. 701 Defined Contribution 401(K · Sponsored by Bd of Trustees Automobile Mechanics Local No 701 Defined Contribution · Illinois · Other Services

$83M in assets, 3,446 participants

Bd of Trustees Automobile Mechanics Local No 701 Defined Contribution's Mechanics Local No. 701 Defined Contribution 401(K reported $83M in total assets and 3,446 participants in its 2024 DOL Form 5500 filing, ranking in the 89th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • 89th percentile by assets (of 123,622 plans)
  • #7,390 in Other Services (7,719 peers)

Coverage in Illinois

Mechanics Local No. 701 Defined Contribution 401(K covers 3,446 participants in Illinois, 4.4x the typical Illinois plan (state average ~779 per filing). Assets: $83M.

$83M
total plan assets (2024 EOY)
3,446
covered participants
89th
percentile by assets (of 123,622 plans)
$24,059
avg assets per participant

Where Mechanics Local No. 701 Defined Contribution 401(K sits by total assets

Mechanics Local No. 701 Defined Contribution 401(K vs every filed plan by assets

End-of-year total assets · plan year 2024 · DOL Form 5500

$82,907,098 Top 11% higher than 89% of 123,620 filed plans

This plan $0 $2,010,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Mechanics Local No. 701 Defined Contribution 401(K end-of-year assets rose from $67M in the plan year 2023 filing to $83M in the plan year 2024 filing.
  • Mechanics Local No. 701 Defined Contribution 401(K reported net income fell from $19M in the plan year 2023 filing to $16M in the plan year 2024 filing.
  • Mechanics Local No. 701 Defined Contribution 401(K reported participants fell from 3,663 in the plan year 2023 filing to 3,446 in the plan year 2024 filing.

See the national 2023→2024 release diff →

State
Illinois
Industry
Other Services

Participants vs Illinois filers

In Illinois, the average filing covers about 779 participants across 5,745 plans. Mechanics Local No. 701 Defined Contribution 401(K reports 3,446 participants - 4.4x that state average ($83M EOY assets).

Illinois filing particulars

Total Assets (Beginning of Year)$67M
Net Assets (End of Year)$83M
Net Income$16M
Employer EIN471959684
Plan Effective Date2015-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Bd of Trustees Automobile Mechanics Local No 701 Defined Contribution)

$40M$60M$80M$100M 202220232024 $48.6M $82.9M ▲ +70.5%
Total plan assets by year, all Bd of Trustees Automobile Mechanics Local No 701 Defined Contribution plans on file
Year Plans Participants Total Assets
2022 1 3,347 $49M
2023 1 3,663 $67M
2024 1 3,446 $83M

Nearby 401(k) Plans in Illinois

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Mechanics Local No. 701 Defined Contribution 401(K vs. nearby 401(k) plans in Illinois, assets vs. participants Scatter plot of 6 data points. -1000000100000200000300000 -50510152025 Total assets ($B) Participants Mechanics Local No. …, Total assets ($B): 0.082907098 · Participants: 3446Mechanics Local No. …Accenture United Sta…, Total assets ($B): 21.302643276 · Participants: 66965Accenture United Sta…State Farm 401(k) Sa…, Total assets ($B): 19.010099056 · Participants: 63297State Farm 401(k) Sa…United Airlines Pilo…, Total assets ($B): 16.835964452 · Participants: 16659United Airlines Pilo…Abbott Laboratories …, Total assets ($B): 15.755668 · Participants: 38229Abbott Laboratories …Walgreens Retirement…, Total assets ($B): 14.535873337 · Participants: 233635Walgreens Retirement…
Mechanics Local No. 701 Defined Contribution 401(K vs. nearby 401(k) plans in Illinois, assets vs. participants
Compare Mechanics Local No. 701 Defined Contribu… side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Mechanics Local No. 701 Defined Contribution 401(K by total assets, not by location.

Frequently Asked Questions

How did Mechanics Local No. 701 Defined Contribution 401(K assets move in 2024? ▼
Mechanics Local No. 701 Defined Contribution 401(K grew sharply - up 23.0% during 2024, from $67M to $83M. Reported net income was $16M.
How have Bd of Trustees Automobile Mechanics Local No 701 Defined Contribution plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Bd of Trustees Automobile Mechanics Local No 701 Defined Contribution's sponsor-wide assets grew 70.5%, from $49M to $83M.
Where does Mechanics Local No. 701 Defined Contribution 401(K rank by assets among Form 5500 filers? ▼
Mechanics Local No. 701 Defined Contribution 401(K ranks in the 89th percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Mechanics Local No. 701 Defined Contribution 401(K? ▼
Among 401(k) plans in other states, the closest by assets is J.Jill 401(k) Plan in MA ($83M, 948 participants).

Next read for Mechanics Local No. 701 Defined Contribu…

Filing takeaways

Ways to act on Mechanics Local No. 701 Defined Contribution 401(K's numbers.

  • By total assets, Mechanics Local No. 701 Defined Contribution 401(K ranks in the top quartile of all filed plans by assets. See the largest plans
  • Compare it side-by-side against 3 similar 401(k) plans in Illinois. Compare plans
  • Bd of Trustees Automobile Mechanics Local No 701 Defined Contribution's sponsor-wide assets have grown 70.5% since 2022 across 3 plan years on file. More Other Services plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 471959684.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.