Retirement plan

PRESTON MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN

Name: PRESTON MANAGEMENT, INC. - PRESTON MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN (2017) Form 5500
Creator: PRESTON MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRESTON MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN, PRESTON MANAGEMENT, INC.

PRESTON MANAGEMENT, INC.EIN 25-1848938Plan #001PY 2017

1500 WILMINGTON ROAD - NEW CASTLE, PA 161052052724-658-9610

Prospect flagsHigh feesLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$12.1M

+19.5% from 2016

Total participants

287

-10.3% from 2016

Average account balance

$73,715

+32.6% from 2016

Annual return

16.72%

+9.19 pp from 2016

Benchmarks

See 1,218 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,218 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.22M

Not enough data

1 years with asset history on file

Average account balance

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

$90K

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.

247

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.

47.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$463

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
CORNERSTONE ADVISORS ASSET MGMT2 years Filed as: CORNERSTONE INSTITUTIONAL INV Service code 26 · EIN 23-2933229 74 WEST BROAD STREET SUITE 340 · BETHLEHEM, PA 18018	Advisory (Participants)	$38,299
ARNETT CARBIS TOOTHMAN LLP1 year Filed as: ARNETT CARBIS TOOTHMAN Service code 10 · EIN 55-0486667 2599 WILMINGTON ROAD · NEW CASTLE, PA 16105	Accounting	$7,055
WALKER BENEFITS, LLC2 years Service code 12 · EIN 32-0453512 2599 WILMINGTON ROAD · NEW CASTLE, PA 16105	Claims processing; Participant loan p...	$3,185
JOHN HANCOCK LIFE INSURANCE COMPANY3+ years Filed as: JOHN HANCOCK LIFE INSURANCE CO (USA Service code 15 · EIN 01-0233346 PO BOX 600 · BUFFALO, NY 142010600	Recordkeeping	$744

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$70K

$263 / participant

Investment mgmt$38K54.8%
Contract admin$21K30.5%
Other / not subdivided$10K14.7%

% of EOY assets

0.578%

all-in expense ratio

Categories reported

2 / 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: ARNETT CARBIS TOOTHMAN LLP
Auditor EIN: 550486667
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,715

$48,064+53.4%

$78,778-6.4%

$69,631+5.9%

Participation rate

53.8%

61.6%-7.8pp

69.2%-15.4pp

70.7%-16.9pp

Annual return

16.72%

21.81%-5.1pp

35.62%-18.9pp

27571.02%-27554.3pp

Employer contribution / active EE

$913

$744+22.7%

$1,986-54.0%

$2,032-55.1%

Participant deferral / active EE

$2,261

$2,079+8.7%

$2,958-23.6%

$3,224-29.9%

Admin fee / account holder

$426

$152+180.3%

$5,134-91.7%

$110+285.8%

Provider

Service type

Compensation

CORNERSTONE ADVISORS ASSET MGMT2 years

Filed as: CORNERSTONE INSTITUTIONAL INV

Service code 26 · EIN 23-2933229

74 WEST BROAD STREET SUITE 340 · BETHLEHEM, PA 18018

Advisory (Participants)

$38,299

ARNETT CARBIS TOOTHMAN LLP1 year

Filed as: ARNETT CARBIS TOOTHMAN

Service code 10 · EIN 55-0486667

2599 WILMINGTON ROAD · NEW CASTLE, PA 16105

Accounting

$7,055

WALKER BENEFITS, LLC2 years

Service code 12 · EIN 32-0453512

2599 WILMINGTON ROAD · NEW CASTLE, PA 16105

Claims processing; Participant loan p...

$3,185

JOHN HANCOCK LIFE INSURANCE COMPANY3+ years

Filed as: JOHN HANCOCK LIFE INSURANCE CO (USA

Service code 15 · EIN 01-0233346

PO BOX 600 · BUFFALO, NY 142010600

Recordkeeping

$744

PRESTON MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRESTON MANAGEMENT, INC. 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