Retirement plan

BOUMA GROUP, INC. RETIREMENT PLAN

Name: BOUMA GROUP, INC. - BOUMA GROUP, INC. RETIREMENT PLAN (2023) Form 5500
Creator: BOUMA GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOUMA GROUP, INC. RETIREMENT PLAN, BOUMA GROUP, INC.

BOUMA GROUP, INC.EIN 20-1562907Plan #001PY 2023

4101 ROGER B CHAFFEE BLVD SE - GRAND RAPIDS, MI 495483443616-538-3600LinkedIn201-500 employeesconstruction

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$27.2M

-7.8% from 2022

Total participants

284

+0.4% from 2022

Average account balance

$96,202

-8.7% from 2022

Annual return

-3.51%

-4.85 pp from 2022

Benchmarks

See 3,251 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,251 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$31.37M

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

279

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

$1.94M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+2.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$406

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
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290	Contract Administrator	$116,988
STIFEL NICOLAUS & CO INC7 years Filed as: STIFEL, NICOLAUS AND COMPANY Service code 27 · EIN 43-0538770	Advisory (Plan)	$42,500
BOUMA CORPORATION7 years Service code 14 · EIN 38-1395711	Plan Administrator	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T2U3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$117K

$585 / participant

Contract admin$117K100.0%

% of EOY assets

0.430%

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: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$96,202

$76,696+25.4%

$96,538-0.3%

$71,529+34.5%

Participation rate

99.5%

66.6%+32.9pp

74.3%+25.2pp

67.9%+31.6pp

Annual return

-3.51%

48.32%-51.8pp

35.74%-39.3pp

28.97%-32.5pp

Employer contribution / active EE

$3,743

$3,032+23.5%

$3,740+0.1%

$2,590+44.5%

Participant deferral / active EE

$4,955

$3,770+31.4%

$4,880+1.5%

$4,291+15.5%

Admin fee / account holder

$413

$2,030-79.6%

$6,737-93.9%

$1,588-74.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY8+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$116,988

STIFEL NICOLAUS & CO INC7 years

Filed as: STIFEL, NICOLAUS AND COMPANY

Service code 27 · EIN 43-0538770

Advisory (Plan)

$42,500

BOUMA CORPORATION7 years

Service code 14 · EIN 38-1395711

Plan Administrator

BOUMA GROUP, INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BOUMA GROUP, INC. RETIREMENT 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