Retirement plan

EQUITY RESOURCES, INC 401K PROFIT SHARING PLAN

Name: EQUITY RESOURCES, INC - EQUITY RESOURCES, INC 401K PROFIT SHARING PLAN (2024) Form 5500
Creator: EQUITY RESOURCES, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EQUITY RESOURCES, INC 401K PROFIT SHARING PLAN, EQUITY RESOURCES, INC

EQUITY RESOURCES, INCEIN 31-1401378Plan #001PY 2024

25 1/2 S PARK PLACE, PO BOX 5177 - NEWARK, OH 43055740-349-7082callequity.netLinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$23.3M

+10.2% from 2023

Total participants

222

-9.4% from 2023

Average account balance

$106,579

+21.3% from 2023

Annual return

11.33%

-6.27 pp from 2023

Benchmarks

See 2,174 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,174 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.34M

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

219

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.27M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$384

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
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY CAPITAL PRODUCTS LLC Service code 26 · EIN 20-8764829	Advisory (Participants)	$65,786
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY INVESTMENTS INST OPERATION Service code 37 · EIN 04-2647786	Loan Processing	$17,759
STRATEGIC ADVISORS, INC.1 year Filed as: STRATEGIC ADVISORS Service code 27 · EIN 04-2654524	Advisory (Plan)	$530
FIDELITY INVESTMENTS INSTITUTIONAL2 years Service code 60	Sub-TA Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D2S

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.
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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$84K

$440 / participant

Recordkeeping$18K21.1%
Investment mgmt$5300.6%
Other / not subdivided$66K78.2%

% of EOY assets

0.360%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RICHEY MAY & CO.
Auditor EIN: 710911208
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$106,579

$122,042-12.7%

$184,260-42.2%

$74,459+43.1%

Participation rate

98.4%

85.5%+12.9pp

86.8%+11.6pp

67.2%+31.2pp

Annual return

11.33%

19.91%-8.6pp

28.84%-17.5pp

1369.70%-1358.4pp

Employer contribution / active EE

$4,537-100.0%

$6,427-100.0%

$2,626-100.0%

Participant deferral / active EE

$6,637

$7,143-7.1%

$9,133-27.3%

$4,350+52.6%

Admin fee / account holder

$384

$1,252-69.3%

$13,898-97.2%

$1,945-80.3%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY CAPITAL PRODUCTS LLC

Service code 26 · EIN 20-8764829

Advisory (Participants)

$65,786

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY INVESTMENTS INST OPERATION

Service code 37 · EIN 04-2647786

Loan Processing

$17,759

STRATEGIC ADVISORS, INC.1 year

Filed as: STRATEGIC ADVISORS

Service code 27 · EIN 04-2654524

Advisory (Plan)

$530

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Service code 60

Sub-TA Fees

EQUITY RESOURCES, INC 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EQUITY RESOURCES, INC 401K 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