Retirement plan

DOWNEY FINANCIAL GROUP, INC. 401(K) PROFIT SHARING PLAN

Name: DOWNEY FINANCIAL GROUP, INC. - DOWNEY FINANCIAL GROUP, INC. 401(K) PROFIT SHARING PLAN (2021) Form 5500
Creator: DOWNEY FINANCIAL GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DOWNEY FINANCIAL GROUP, INC. 401(K) PROFIT SHARING PLAN, DOWNEY FINANCIAL GROUP, INC.

DOWNEY FINANCIAL GROUP, INC.EIN 20-0428743Plan #001PY 2021

806 W. BARTLETT ROAD - BARTLETT, IL 60103630-233-6060downeyfg.comLinkedIn11-50 employeesfinancial services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$541K

+13.6% from 2020

Total participants

+33.3% from 2020

Average account balance

$135,225

-43.2% from 2020

Annual return

13.88%

-26.80 pp from 2020

Benchmarks

See 33,465 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort33,465 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$728K

Not enough data

1 years with asset history on file

Average account balance

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

$243K

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.

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$47K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+21.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2J2T3D3H

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).
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$40K

$13170 / participant

Other / not subdivided$40K100.0%

% of EOY assets

7.305%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$135,225

$209,874-35.6%

$189,537-28.7%

$167,536-19.3%

Participation rate

100.0%

88.7%+11.3pp

87.8%+12.2pp

82.1%+17.9pp

Annual return

13.88%

748.61%-734.7pp

555.34%-541.5pp

478.82%-464.9pp

Employer contribution / active EE

$3,913

$6,913-43.4%

$6,161-36.5%

$4,839-19.1%

Participant deferral / active EE

$8,858

$8,934-0.8%

$8,220+7.8%

$6,342+39.7%

Admin fee / account holder

$9,878

$14,299-30.9%

$12,048-18.0%

$12,315-19.8%

DOWNEY FINANCIAL GROUP, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DOWNEY FINANCIAL GROUP, 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