Retirement plan

FIRST QUALITY SAVINGS AND INVESTMENT PLAN

Name: FIRST QUALITY ENTERPRISES INC. - FIRST QUALITY SAVINGS AND INVESTMENT PLAN (2021) 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 2021

80 CUTTERMILL ROAD - GREAT NECK, NY 11021516-773-7637

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$421.6M

-12.7% from 2016

Total participants

4,701

-10.5% from 2016

Average account balance

$93,227

-3.4% from 2016

Annual return

14.95%

-9.03 pp from 2016

Benchmarks

See 394 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort394 peers

Snapshot2021

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$197,956
WELLS FARGO BANK, N.A.7+ years Service code 15 · EIN 94-1347393	Recordkeeping	$145,468
CAPFINANCIAL PARTNERS LLC1 year Service code 28 · EIN 26-0058143	Investment Management	$141,889
FORVIS, LLP1 year Filed as: MAZARS USA, LLP Service code 10 · EIN 13-1459550	Accounting	$22,000

Plan features & details

Pension benefit codes2E2G2J2K2S2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$412K

$103 / participant

Investment mgmt$206K50.0%
Contract admin$184K44.6%
Other / not subdivided$22K5.3%

% of EOY assets

0.098%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA, LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$93,227

$114,195-18.4%

$106,554-12.5%

$93,010+0.2%

Participation rate

95.5%

86.4%+9.1pp

76.1%+19.4pp

73.9%+21.6pp

Annual return

14.95%

22.18%-7.2pp

26.80%-11.9pp

158.70%-143.8pp

Employer contribution / active EE

$2,946

$4,009-26.5%

$2,819+4.5%

$2,705+8.9%

Participant deferral / active EE

$5,828

$5,908-1.4%

$4,398+32.5%

$4,561+27.8%

Admin fee / account holder

$91

$105-13.1%

$7,408-98.8%

$152-40.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$197,956

WELLS FARGO BANK, N.A.7+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$145,468

CAPFINANCIAL PARTNERS LLC1 year

Service code 28 · EIN 26-0058143

Investment Management

$141,889

FORVIS, LLP1 year

Filed as: MAZARS USA, LLP

Service code 10 · EIN 13-1459550

Accounting

$22,000

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