Retirement plan

FRANCHISE GROUP, INC. 401(K) PLAN

Name: FRANCHISE GROUP, INC. - FRANCHISE GROUP, INC. 401(K) PLAN (2021) Form 5500
Creator: FRANCHISE GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRANCHISE GROUP, INC. 401(K) PLAN, FRANCHISE GROUP, INC.

FRANCHISE GROUP, INC.EIN 27-3561876Plan #002PY 2021

109 INNOVATION COURT, SUITE J - DELAWARE, OH 43015914-939-5161

Prospect flagsLow participationLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$101.3M

+8.0% from 2020

Total participants

7,360

-13.1% from 2020

Average account balance

$51,293

+26.3% from 2020

Annual return

15.83%

-27.71 pp from 2020

Benchmarks

See 63 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants5,000-9,999

Cohort63 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$149.31M

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

3,075

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.

12.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.15M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$688

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

+11.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$111

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
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 37 · EIN 04-2647786	Loan Processing	$272,954
MORGAN STANLEY SMITH BARNEY2+ years Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 26 · EIN 20-8764829	Advisory (Participants)	$104,227
CARON & BLETZER, PLLC1 year Filed as: CARON & BLETZER PLLC Service code 10 · EIN 04-3499945	Accounting	$11,000
PLANMEMBER SECURITIES CORPORATION1 year Service code 61 · EIN 95-3706234	Finders' fees / placement fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3F3H

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$430K

$66 / participant

Other / not subdivided$430K100.0%

% of EOY assets

0.424%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON AND BLETZER PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$51,293

$41,850+22.6%

$96,572-46.9%

$101,555-49.5%

Participation rate

17.6%

58.3%-40.7pp

69.8%-52.2pp

74.5%-56.9pp

Annual return

15.83%

16.51%-0.7pp

37.79%-22.0pp

21.00%-5.2pp

Employer contribution / active EE

$929-100.0%

$2,357-100.0%

$2,972-100.0%

Participant deferral / active EE

$1,025

$1,934-47.0%

$3,850-73.4%

$4,874-79.0%

Admin fee / account holder

$218

$73+198.9%

$6,183-96.5%

$139+56.0%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 37 · EIN 04-2647786

Loan Processing

$272,954

MORGAN STANLEY SMITH BARNEY2+ years

Filed as: MORGAN STANLEY SMITH BARNEY LLC

Service code 26 · EIN 20-8764829

Advisory (Participants)

$104,227

CARON & BLETZER, PLLC1 year

Filed as: CARON & BLETZER PLLC

Service code 10 · EIN 04-3499945

Accounting

$11,000

PLANMEMBER SECURITIES CORPORATION1 year

Service code 61 · EIN 95-3706234

Finders' fees / placement fees

FRANCHISE GROUP, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FRANCHISE GROUP, INC. 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