Retirement plan

PATTON WINGS, INC. 401(K) PLAN

Name: PATTON WINGS, INC. - PATTON WINGS, INC. 401(K) PLAN (2021) Form 5500
Creator: PATTON WINGS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PATTON WINGS, INC. 401(K) PLAN, PATTON WINGS, INC.

PATTON WINGS, INC.EIN 03-0606420Plan #001PY 2021

13405 WEST STAR DRIVE, SUITE 2 - SHELBY TOWNSHIP, MI 48315586-781-0591

Prospect flagsLow participationLow participant contributionRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$11.3M

No prior year

Total participants

5,218

No prior year

Average account balance

$12,926

No prior year

Annual return

13.16%

+108.36 pp from 2020

Benchmarks

See 247 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort247 peers

Snapshot2021

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$13.95M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$28K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

499

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

7.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.65M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$374

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+11.55%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$164

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 1 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.1 year Service code 13 · EIN 27-2037969	Contract Administrator	$82,089

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$82K

$18 / participant

Contract admin$82K100.0%

% of EOY assets

0.728%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HUNGERFORD NICHOLS
Auditor EIN: 382184825
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$12,926

$36,939-65.0%

$80,741-84.0%

$93,010-86.1%

Participation rate

6.0%

32.6%-26.6pp

54.2%-48.2pp

73.9%-67.9pp

Annual return

13.16%

17.55%-4.4pp

87.30%-74.1pp

158.70%-145.5pp

Employer contribution / active EE

$82

$455-82.0%

$1,160-92.9%

$2,705-97.0%

Participant deferral / active EE

$175

$1,044-83.3%

$2,145-91.9%

$4,561-96.2%

Admin fee / account holder

$94

$162-41.7%

$3,380-97.2%

$152-37.9%

Provider

Service type

Compensation

NEWPORT GROUP, INC.1 year

Service code 13 · EIN 27-2037969

Contract Administrator

$82,089

PATTON WINGS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PATTON WINGS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion