Retirement plan

FIRST QUALITY SAVINGS AND INVESTMENT PLAN

Name: FIRST QUALITY ENTERPRISES, INC. - FIRST QUALITY SAVINGS AND INVESTMENT PLAN (2016) Form 5500
Creator: FIRST QUALITY ENTERPRISES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST QUALITY SAVINGS AND INVESTMENT PLAN, FIRST QUALITY ENTERPRISES, INC.

FIRST QUALITY ENTERPRISES, INC.EIN 23-2744573Plan #001PY 2016

80 CUTTERMILL ROAD - GREAT NECK, NY 11021814-235-6900

Prospect flagsLow assets / participantLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$224.1M

-12.7% from 2016

Total participants

5,781

-10.5% from 2016

Average account balance

$43,328

-3.4% from 2016

Annual return

8.76%

-9.03 pp from 2016

Benchmarks

See 55 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort55 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$466.03M

Not enough data

1 years with asset history on file

Average account balance

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

$91K

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.

5,145

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.

95.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$41.52M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+15.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$68

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 4 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.2+ years Service code 15 · EIN 94-1347393	Recordkeeping	$329,812
CAPFINANCIAL PARTNERS LLC1 year Filed as: CAPFINANCIAL PARTNERS, LLC Service code 27 4208 SIX FORKS ROAD · RALEIGH, NC 276756071	Advisory (Plan)	$57,000
FORVIS, LLP1 year Filed as: WEISER MAZARS LLP Service code 27 60 CROSSWAYS PARK DR WEST · WOODBURY, NY 11797	Advisory (Plan)	$20,000
MORNINGSTAR2+ years Filed as: MORNINGSTAR ASSOCIATES, LLC Service code 27 · EIN 36-4317381	Advisory (Plan)	$14,980

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$521K

$104 / participant

Other / not subdivided$521K100.0%

% of EOY assets

0.232%

all-in expense ratio

Categories reported

0 / 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: MAZARS, USA LLP
Auditor EIN: 131459550
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,328

$117,928-63.3%

$78,002-44.5%

$65,292-33.6%

Participation rate

87.9%

85.6%+2.3pp

75.5%+12.4pp

72.4%+15.5pp

Annual return

8.76%

11.37%-2.6pp

425.99%-417.2pp

11.84%-3.1pp

Employer contribution / active EE

$1,338

$3,999-66.5%

$2,470-45.8%

$2,302-41.9%

Participant deferral / active EE

$3,411

$5,945-42.6%

$3,497-2.4%

$3,579-4.7%

Admin fee / account holder

$101

$66+52.2%

$5,481-98.2%

$57+75.6%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.2+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$329,812

CAPFINANCIAL PARTNERS LLC1 year

Filed as: CAPFINANCIAL PARTNERS, LLC

Service code 27

4208 SIX FORKS ROAD · RALEIGH, NC 276756071

Advisory (Plan)

$57,000

FORVIS, LLP1 year

Filed as: WEISER MAZARS LLP

Service code 27

60 CROSSWAYS PARK DR WEST · WOODBURY, NY 11797

Advisory (Plan)

$20,000

MORNINGSTAR2+ years

Filed as: MORNINGSTAR ASSOCIATES, LLC

Service code 27 · EIN 36-4317381

Advisory (Plan)

$14,980

FIRST QUALITY SAVINGS AND INVESTMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST QUALITY SAVINGS AND INVESTMENT 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