Retirement plan

THE RESTATED THRIFT/PROFIT SHARING PLAN FOR COOPERATIVES

Name: INNOVATIVE AG SERVICES CO. - THE RESTATED THRIFT/PROFIT SHARING PLAN FOR COOPERATIVES (2024) Form 5500
Creator: INNOVATIVE AG SERVICES CO.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE RESTATED THRIFT/PROFIT SHARING PLAN FOR COOPERATIVES, INNOVATIVE AG SERVICES CO.

INNOVATIVE AG SERVICES CO.EIN 20-2096489Plan #030PY 2024

2010 S MAIN ST - MONTICELLO, IA 523107707319-465-6896innovativeag.comLinkedIn201-500 employeesretail

Other plans on this EIN

1 filing

#020Retirement-$64.8M assets

Prospect flagsLow returns

Top hat statement on fileNQDC

Filed April 15, 2021 (most recent of 2 filings on file)

Plan administrator

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1415 28th Street, Suite 100

West Des Moines, IA 50266

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Plans declared (1)

Innovative Ag Services Co. Nonqualified Defined Benefit Plan for Selected Employees2 emp

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Total assets (EOY)

$38.1M

+4.3% from 2023

Total participants

510

+6.5% from 2023

Average account balance

$80,195

-2.5% from 2023

Annual return

11.06%

-6.91 pp from 2023

Benchmarks

See 270 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants250-999

Cohort270 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$38.09M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

475

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.

88.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.98M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$100

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 7 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4 years Service code 13 · EIN 42-0127290	Contract Administrator	$27,889
FINANCIAL ENGINES4 years Filed as: EDELMAN FINANCIAL ENGINES, LLC Service code 26 · EIN 94-3250323	Advisory (Participants)	$12,933
ASSOCIATED BENEFITS CORPORATION8 years Service code 14 · EIN 42-1279416	Plan Administrator	$9,112
DST ASSET MANAGER SOLUTIONS, INC.7 years Service code 19 PO BOX 219502 · KANSAS CITY, MO 641219502	Securities Custodian	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.10+ years Filed as: MASSACHUSETTS FINANCIAL SERVICES CO Service code 19 · EIN 04-2747644	Securities Custodian	$0
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$0
WELLINGTON TRUST COMPANY7 years Filed as: WELLINGTON TRUST CO., NA Service code 19 280 CONGRESS STREET · BOSTON, MA 02210	Securities Custodian	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

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.
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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$48K

$156 / participant

Recordkeeping$9K19.1%
Investment mgmt$13K27.1%
Contract admin$26K53.7%

% of EOY assets

0.125%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CBIZ CPAS P.C.
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,195

$73,149+9.6%

$120,580-33.5%

$77,762+3.1%

Participation rate

88.5%

55.2%+33.4pp

72.0%+16.6pp

70.6%+17.9pp

Annual return

11.06%

18.24%-7.2pp

107.48%-96.4pp

31.27%-20.2pp

Employer contribution / active EE

$1,615

$1,793-10.0%

$3,469-53.5%

$2,728-40.8%

Participant deferral / active EE

$4,889

$3,006+62.7%

$4,995-2.1%

$4,651+5.1%

Admin fee / account holder

$100

$660-84.8%

$9,418-98.9%

$433-76.8%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4 years

Service code 13 · EIN 42-0127290

Contract Administrator

$27,889

FINANCIAL ENGINES4 years

Filed as: EDELMAN FINANCIAL ENGINES, LLC

Service code 26 · EIN 94-3250323

Advisory (Participants)

$12,933

ASSOCIATED BENEFITS CORPORATION8 years

Service code 14 · EIN 42-1279416

Plan Administrator

$9,112

DST ASSET MANAGER SOLUTIONS, INC.7 years

Service code 19

PO BOX 219502 · KANSAS CITY, MO 641219502

Securities Custodian

MASSACHUSETTS MUTUAL LIFE INS. CO.10+ years

Filed as: MASSACHUSETTS FINANCIAL SERVICES CO

Service code 19 · EIN 04-2747644

Securities Custodian

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

WELLINGTON TRUST COMPANY7 years

Filed as: WELLINGTON TRUST CO., NA

Service code 19

280 CONGRESS STREET · BOSTON, MA 02210

Securities Custodian

THE RESTATED THRIFT/PROFIT SHARING PLAN FOR COOPERATIVES

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

THE RESTATED THRIFT/PROFIT SHARING PLAN FOR COOPERATIVES

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