Retirement plan

UNITED REFINING COMPANY INCENTIVE SAVINGS PLAN FOR SALARIED EMPLOYEES

Name: UNITED REFINING COMPANY - UNITED REFINING COMPANY INCENTIVE SAVINGS PLAN FOR SALARIED EMPLOYEES (2023) Form 5500
Creator: UNITED REFINING COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITED REFINING COMPANY INCENTIVE SAVINGS PLAN FOR SALARIED EMPLOYEES, UNITED REFINING COMPANY

UNITED REFINING COMPANYEIN 25-1411751Plan #004PY 2023

15 BRADLEY STREET, P.O. BOX 780 - WARREN, PA 16365814-726-4670urc.comLinkedIn1001-5000 employeesoil & energy

Other plans on this EIN

3 filings

#002Retirement-$103.1M assets #001Retirement-$39.2M assets #006Retirement-$37.5M assets

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$75.3M

+13.8% from 2022

Total participants

557

+3.5% from 2022

Average account balance

$144,339

+12.3% from 2022

Annual return

15.90%

+26.59 pp from 2022

Benchmarks

See 1,152 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,152 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$90.59M

Not enough data

1 years with asset history on file

Average account balance

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

$172K

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.

527

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.

93.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.36M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+25.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$112

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 3 by compensation

Provider	Service type	Compensation
WILLIS TOWERS WATSON US LLC5 years Service code 70 · EIN 53-0181291	Consulting Fees	$12,922
MERRILL LYNCH PIERCE FENNER & SMITH9+ years Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085	Recordkeeping	$2,700
WILLIS TOWERS WATSON US LLC3 years Filed as: WILLIS TOWERS WATSON DELAWARE INC. Service code 70 LOCKBOX 28025 · CHICAGO, IL 606731280	Consulting Fees	$1,661

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$17K

$35 / participant

Recordkeeping$3K15.6%
Investment mgmt$15K84.4%

% of EOY assets

0.023%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: LVBW, LLP
Auditor EIN: 223736025
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$144,339

$84,784+70.2%

$98,439+46.6%

$74,419+94.0%

Participation rate

92.9%

81.5%+11.4pp

75.2%+17.8pp

70.7%+22.2pp

Annual return

15.90%

20.59%-4.7pp

21.16%-5.3pp

34.38%-18.5pp

Employer contribution / active EE

$3,843

$3,364+14.2%

$3,048+26.1%

$2,637+45.7%

Participant deferral / active EE

$6,294

$5,218+20.6%

$4,738+32.8%

$4,528+39.0%

Admin fee / account holder

$33

$204-83.8%

$8,948-99.6%

$348-90.5%

Provider

Service type

Compensation

WILLIS TOWERS WATSON US LLC5 years

Service code 70 · EIN 53-0181291

Consulting Fees

$12,922

MERRILL LYNCH PIERCE FENNER & SMITH9+ years

Filed as: MERRILL LYNCH, PIERCE, FENNER AND S

Service code 15 · EIN 13-5674085

Recordkeeping

$2,700

WILLIS TOWERS WATSON US LLC3 years

Filed as: WILLIS TOWERS WATSON DELAWARE INC.

Service code 70

LOCKBOX 28025 · CHICAGO, IL 606731280

Consulting Fees

$1,661

UNITED REFINING COMPANY INCENTIVE SAVINGS PLAN FOR SALARIED EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITED REFINING COMPANY INCENTIVE SAVINGS PLAN FOR SALARIED EMPLOYEES

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