Retirement plan

O'CONNELL ELECTRIC COMPANY, INC. 401(K) PROFIT SHARING PLAN

Name: OCONNELL ELECTRIC CO. - O'CONNELL ELECTRIC COMPANY, INC. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: OCONNELL ELECTRIC CO.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, O'CONNELL ELECTRIC COMPANY, INC. 401(K) PROFIT SHARING PLAN, OCONNELL ELECTRIC CO.

OCONNELL ELECTRIC CO.EIN 16-0950645Plan #002PY 2019

830 PHILLIPS RD - VICTOR, NY 14564585-924-2176oconnellelectric.comLinkedIn501-1000 employeesconstruction

Prospect flagsHigh feesHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$41.3M

+30.8% from 2018

Total participants

166

-7.8% from 2018

Average account balance

$289,159

+51.9% from 2018

Annual return

26.94%

+31.77 pp from 2018

Benchmarks

See 2,830 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,830 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$57.57M

Not enough data

1 years with asset history on file

Average account balance

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

$212K

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.

271

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.

93.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.25M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+17.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$652

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
USI CONSULTING GROUP5+ years Filed as: BURKE GROUP Service code 15 · EIN 80-0688755	Recordkeeping	$57,394
MORGAN STANLEY SMITH BARNEY4 years Filed as: MORGAN STANLEY Service code 27 300 LINDEN OAKS, SUITE 200 · ROCHESTER, NY 14625	Advisory (Plan)	$42,136

Plan features & details

Pension benefit codes2E2F2J2K2T3D2G

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.
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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$100K

$600 / participant

Investment mgmt$42K42.3%
Contract admin$57K57.7%

% of EOY assets

0.241%

all-in expense ratio

Categories reported

2 / 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: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$289,159

$63,114+358.2%

$92,915+211.2%

$65,186+343.6%

Participation rate

86.1%

68.8%+17.4pp

76.0%+10.1pp

70.2%+15.9pp

Annual return

26.94%

28.75%-1.8pp

109.45%-82.5pp

29.39%-2.4pp

Employer contribution / active EE

$10,932

$2,571+325.3%

$3,653+199.2%

$2,177+402.2%

Participant deferral / active EE

$5,200

$3,108+67.3%

$4,238+22.7%

$3,514+48.0%

Admin fee / account holder

$696

$624+11.6%

$5,796-88.0%

$847-17.8%

Provider

Service type

Compensation

USI CONSULTING GROUP5+ years

Filed as: BURKE GROUP

Service code 15 · EIN 80-0688755

Recordkeeping

$57,394

MORGAN STANLEY SMITH BARNEY4 years

Filed as: MORGAN STANLEY

Service code 27

300 LINDEN OAKS, SUITE 200 · ROCHESTER, NY 14625

Advisory (Plan)

$42,136

O'CONNELL ELECTRIC COMPANY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

O'CONNELL ELECTRIC COMPANY, INC. 401(K) PROFIT SHARING 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