Retirement plan

BANKW STAFFING, LLC RETIREMENT PLAN

Name: BANKW STAFFING, LLC - BANKW STAFFING, LLC RETIREMENT PLAN (2019) Form 5500
Creator: BANKW STAFFING, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANKW STAFFING, LLC RETIREMENT PLAN, BANKW STAFFING, LLC

BANKW STAFFING, LLCEIN 27-4348369Plan #001PY 2019

5 BEDFORD FARMS DRIVE SUITE 304 - BEDFORD, NH 03110603-792-2345bankwstaffing.comLinkedIn51-200 employeesstaffing and recruiting

Prospect flagsRecently reached 100 employeesFailed to transmit contributions

Top hat statement on fileNQDC

Filed December 16, 2021

Plan administrator

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5 Bedford Farms Ste 304

Bedford, NH 03110

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Plans declared (1)

2021 Retention Incentive Plan10 emp

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Total assets (EOY)

$9.9M

+41.0% from 2018

Total participants

156

+6.1% from 2018

Average account balance

$79,596

+6.9% from 2018

Annual return

26.35%

+33.38 pp from 2018

Benchmarks

See 1,045 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort1,045 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.33M

Not enough data

1 years with asset history on file

Average account balance

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

$143K

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.

163

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.

11.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.93M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+15.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

$252

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 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL3 years Service code 60 · EIN 04-2647786	Sub-TA Fees	$18,022

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D3H

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.
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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$18K

$147 / participant

Investment mgmt$1580.9%
Other / not subdivided$18K99.1%

% of EOY assets

0.184%

all-in expense ratio

Categories reported

1 / 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: CARON & BLETZER,PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$79,596

$38,365+107.5%

$84,628-5.9%

$65,185+22.1%

Participation rate

74.2%

55.7%+18.5pp

68.2%+6.0pp

70.2%+4.0pp

Annual return

26.35%

32.00%-5.6pp

258.80%-232.4pp

29.38%-3.0pp

Employer contribution / active EE

$3,580

$1,258+184.4%

$2,653+34.9%

$2,177+64.5%

Participant deferral / active EE

$6,587

$2,278+189.1%

$3,900+68.9%

$3,514+87.5%

Admin fee / account holder

$147

$451-67.5%

$4,914-97.0%

$847-82.7%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Service code 60 · EIN 04-2647786

Sub-TA Fees

$18,022

BANKW STAFFING, LLC RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANKW STAFFING, LLC RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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