Retirement plan

DEVANEY ENERGY INC. 401K RETIREMENT PLAN

Name: DEVANEY ENERGY INC. - DEVANEY ENERGY INC. 401K RETIREMENT PLAN (2018) Form 5500
Creator: DEVANEY ENERGY INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DEVANEY ENERGY INC. 401K RETIREMENT PLAN, DEVANEY ENERGY INC.

DEVANEY ENERGY INC.EIN 04-2298448Plan #001PY 2018

177 WELLS AVE - NEWTON, MA 02459617-964-8383LinkedIn1-10 employeesoil & energy

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed January 29, 2020

Plan administrator

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177 Wells Avenue

Newton, MA 02459

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Plans declared (1)

Plan name not on file18 emp

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Total assets (EOY)

$13.8M

-7.8% from 2017

Total participants

175

+4.8% from 2017

Average account balance

$105,273

-15.5% from 2017

Annual return

-6.62%

-21.50 pp from 2017

Benchmarks

See 448 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort448 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.32M

Not enough data

1 years with asset history on file

Average account balance

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

$127K

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.

192

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.

91.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.00M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+12.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$206

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
NATIONWIDE4+ years Service code 37 · EIN 31-1592130	Loan Processing	$74,288
SUMMIT FINANCIAL CORPORATION4+ years Service code 13 · EIN 04-3222046	Contract Administrator	$28,616
COMMONWEALTH FINANCIAL NETWORK2 years Service code 33 29 SAWYER ROAD · WALTHAM, MA 02453	Securities brokerage; Other fees	$16,224

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$119K

$764 / participant

Other / not subdivided$119K100.0%

% of EOY assets

0.864%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: GRAY, GRAY & GRAY, LLP
Auditor EIN: 042088368
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$105,273

$45,825+129.7%

$90,657+16.1%

$56,289+87.0%

Participation rate

71.8%

66.7%+5.1pp

74.0%-2.2pp

69.9%+1.9pp

Annual return

-6.62%

38.64%-45.3pp

1.89%-8.5pp

-9.96%+3.3pp

Employer contribution / active EE

$2,011

$1,372+46.6%

$2,532-20.6%

$2,111-4.7%

Participant deferral / active EE

$4,837

$2,562+88.8%

$3,424+41.2%

$3,350+44.4%

Admin fee / account holder

$909

$413+120.4%

$4,994-81.8%

$521+74.6%

Provider

Service type

Compensation

NATIONWIDE4+ years

Service code 37 · EIN 31-1592130

Loan Processing

$74,288

SUMMIT FINANCIAL CORPORATION4+ years

Service code 13 · EIN 04-3222046

Contract Administrator

$28,616

COMMONWEALTH FINANCIAL NETWORK2 years

Service code 33

29 SAWYER ROAD · WALTHAM, MA 02453

Securities brokerage; Other fees

$16,224

DEVANEY ENERGY INC. 401K RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DEVANEY ENERGY INC. 401K RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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