Retirement plan

PROFICIENT AUTO, INC DBA PROFICIENT AUTO TRANSPORT 401(K) PROFIT SHARING PLAN

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

PROFICIENT AUTO, INC. DBA PROFICIENT AUTO TRANSPORTEIN 20-1693247Plan #001PY 2021

10057 103RD STREET - JACKSONVILLE, FL 32210904-772-1175

Prospect flagsLow assets / participantLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$1.8M

+29.8% from 2020

Total participants

150

-0.7% from 2020

Average account balance

$14,031

+29.8% from 2020

Annual return

22.81%

+16.79 pp from 2020

Benchmarks

See 1,069 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort1,069 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.11M

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

158

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.

84.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$274K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+7.36%

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

1 years with F_SCH_H allocation on file

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
RETIREMENT SOLUTIONS SPECIALISTS4 years Service code 37 · EIN 27-0293282 12276 SAN JOSE BLVD. · JACKSONVILLE, FL 32223	Loan Processing	$3,534
MASSACHUSETTS MUTUAL LIFE INS. CO.4 years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 15 · EIN 04-1590850	Recordkeeping	$2,981
ENVESTNET RETIREMENT SOLUTIONS, LLC3 years Filed as: ENVESTNET Service code 28 · EIN 61-1732930 35 EAST WACKER DR · CHICAGO, IL 60601	Investment Management	$0
MESIROW FINANCIAL INVESTMENT MANAGE3 years Filed as: MESIROW FINANCIAL INV MGT Service code 49 · EIN 36-3429599	Other Services	$0
MILLENNIUM INVESTMENT & RETIREMENT1 year Filed as: MILLENNIUM TRUST Service code 49 · EIN 36-4400066	Other Services	$0
PREFERRED PENSION PLANNING3 years Filed as: PREFERRED PRODUCT NETWORK INC Service code 27 · EIN 42-1255850 711 HIGH STREET · DES MONINES, IA 503924540	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D2S2T

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.
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

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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

$7K

$56 / participant

Contract admin$7K100.0%

% of EOY assets

0.363%

all-in expense ratio

Categories reported

1 / 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: ASSURANCE DIMENSIONS
Auditor EIN: 263429295
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,031

$60,788-76.9%

$85,705-83.6%

$79,389-82.3%

Participation rate

81.0%

62.1%+18.9pp

69.9%+11.2pp

70.7%+10.3pp

Annual return

22.81%

16.57%+6.2pp

21.49%+1.3pp

116.89%-94.1pp

Employer contribution / active EE

$1,702

$1,664+2.3%

$2,619-35.0%

$2,428-29.9%

Participant deferral / active EE

$3,001

$2,920+2.8%

$3,924-23.5%

$4,046-25.8%

Admin fee / account holder

$51

$439-88.4%

$6,877-99.3%

$626-91.9%

Provider

Service type

Compensation

RETIREMENT SOLUTIONS SPECIALISTS4 years

Service code 37 · EIN 27-0293282

12276 SAN JOSE BLVD. · JACKSONVILLE, FL 32223

Loan Processing

$3,534

MASSACHUSETTS MUTUAL LIFE INS. CO.4 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 15 · EIN 04-1590850

Recordkeeping

$2,981

ENVESTNET RETIREMENT SOLUTIONS, LLC3 years

Filed as: ENVESTNET

Service code 28 · EIN 61-1732930

35 EAST WACKER DR · CHICAGO, IL 60601

Investment Management

MESIROW FINANCIAL INVESTMENT MANAGE3 years

Filed as: MESIROW FINANCIAL INV MGT

Service code 49 · EIN 36-3429599

Other Services

MILLENNIUM INVESTMENT & RETIREMENT1 year

Filed as: MILLENNIUM TRUST

Service code 49 · EIN 36-4400066

Other Services

PREFERRED PENSION PLANNING3 years

Filed as: PREFERRED PRODUCT NETWORK INC

Service code 27 · EIN 42-1255850

711 HIGH STREET · DES MONINES, IA 503924540

Advisory (Plan)

PROFICIENT AUTO, INC DBA PROFICIENT AUTO TRANSPORT 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFICIENT AUTO, INC DBA PROFICIENT AUTO TRANSPORT 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