Retirement plan

PATTON WINGS, INC. 401(K) PLAN

Name: PATTON WINGS, INC. - PATTON WINGS, INC. 401(K) PLAN (2022) 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 2022

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

Prospect flagsLow participationLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$10.1M

-10.6% from 2021

Total participants

3,265

-37.4% from 2021

Average account balance

$17,070

+32.1% from 2021

Annual return

-14.01%

-27.17 pp from 2021

Benchmarks

See 266 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort266 peers

Snapshot2022

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 2 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.2 years Service code 13 · EIN 27-4411131	Contract Administrator	$107,247
ENVESTNET RETIREMENT SOLUTIONS, LLC1 year Service code 27 PO BOX 51517, · LOS ANGELES, CA 900515817	Advisory (Plan)	$9,124

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

3 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).

Expense breakdown

Schedule H Part II

Admin total

$116K

$39 / participant

Investment mgmt$9K7.8%
Contract admin$85K73.2%
Other / not subdivided$22K18.9%

% of EOY assets

1.155%

all-in expense ratio

Categories reported

2 / 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

$17,070

$26,906-36.6%

$61,501-72.2%

$77,906-78.1%

Participation rate

9.4%

33.4%-24.0pp

52.6%-43.1pp

73.7%-64.2pp

Annual return

-14.01%

-14.46%+0.5pp

339.04%-353.1pp

12.16%-26.2pp

Employer contribution / active EE

$144

$521-72.4%

$1,160-87.6%

$2,846-95.0%

Participant deferral / active EE

$296

$1,180-74.9%

$2,125-86.1%

$4,805-93.8%

Admin fee / account holder

$197

$117+68.6%

$2,132-90.7%

$133+48.8%

Provider

Service type

Compensation

NEWPORT GROUP, INC.2 years

Service code 13 · EIN 27-4411131

Contract Administrator

$107,247

ENVESTNET RETIREMENT SOLUTIONS, LLC1 year

Service code 27

PO BOX 51517, · LOS ANGELES, CA 900515817

Advisory (Plan)

$9,124

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