Retirement plan

BANNERMAN WEALTH 401(K) PLAN

Name: BANNERMAN WEALTH MANAGEMENT GROUP, LLC - BANNERMAN WEALTH 401(K) PLAN (2022) Form 5500
Creator: BANNERMAN WEALTH MANAGEMENT GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANNERMAN WEALTH 401(K) PLAN, BANNERMAN WEALTH MANAGEMENT GROUP, LLC

BANNERMAN WEALTH MANAGEMENT GROUP, LLCEIN 26-4721085Plan #001PY 2022

2560 KING ARTHUR BLVD., SUITE 124-46 - LEWISVILLE, TX 75056214-919-4448

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$165K

+89.8% from 2021

Total participants

+50.0% from 2021

Average account balance

$27,577

+26.6% from 2021

Annual return

-17.62%

-64.97 pp from 2021

Benchmarks

See 35,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,209 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$594K

Not enough data

1 years with asset history on file

Average account balance

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

$99K

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.

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.

120.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$123K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$25K

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

+23.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2040

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$37K

$6196 / participant

Other / not subdivided$37K100.0%

% of EOY assets

22.469%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,577

$167,522-83.5%

$151,639-81.8%

$134,532-79.5%

Participation rate

100.0%

88.4%+11.6pp

87.5%+12.5pp

81.2%+18.8pp

Annual return

-17.62%

7.81%-25.4pp

3.34%-21.0pp

418.27%-435.9pp

Employer contribution / active EE

$5,583

$6,828-18.2%

$6,165-9.4%

$4,741+17.7%

Participant deferral / active EE

$16,212

$8,986+80.4%

$8,363+93.8%

$6,401+153.3%

Admin fee / account holder

$6,196

$13,780-55.0%

$11,613-46.6%

$11,429-45.8%

BANNERMAN WEALTH 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANNERMAN WEALTH 401(K) 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