Retirement plan

EQUITY RESOURCES, INC 401K PROFIT SHARING PLAN

Name: EQUITY RESOURCES, INC - EQUITY RESOURCES, INC 401K PROFIT SHARING PLAN (2020) 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 2020

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

Prospect flagsHigh feesLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$17.5M

+33.8% from 2019

Total participants

301

+15.8% from 2019

Average account balance

$58,573

+15.9% from 2019

Annual return

18.93%

-6.71 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

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 3 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY GLOBAL BANKING Service code 51 · EIN 26-4310632 OPERATIONS · BALTIMORE, MD 21231	Investment Mgmt Fees	$61,139
NATIONWIDE4 years Service code 51 · EIN 31-1592130 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Investment Mgmt Fees	$49,681
CREST RETIREMENT ADVISORS LLC2 years Service code 17 · EIN 47-0984091 655 METRO PLACE SOUTH · DUBLIN, OH 430173394	Pension Consulting	$5,339

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

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

Expense breakdown

Schedule H Part II

Admin total

$109K

$441 / participant

Other / not subdivided$109K100.0%

% of EOY assets

0.625%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$58,573

$136,307-57.0%

$177,840-67.1%

$73,493-20.3%

Participation rate

99.2%

86.1%+13.1pp

87.7%+11.5pp

70.7%+28.5pp

Annual return

18.93%

18.68%+0.3pp

48.32%-29.4pp

28.51%-9.6pp

Employer contribution / active EE

$1,087

$3,712-70.7%

$5,919-81.6%

$2,270-52.1%

Participant deferral / active EE

$8,976

$5,829+54.0%

$7,714+16.4%

$3,740+140.0%

Admin fee / account holder

$366

$596-38.6%

$12,431-97.1%

$513-28.7%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY GLOBAL BANKING

Service code 51 · EIN 26-4310632

OPERATIONS · BALTIMORE, MD 21231

Investment Mgmt Fees

$61,139

NATIONWIDE4 years

Service code 51 · EIN 31-1592130

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Investment Mgmt Fees

$49,681

CREST RETIREMENT ADVISORS LLC2 years

Service code 17 · EIN 47-0984091

655 METRO PLACE SOUTH · DUBLIN, OH 430173394

Pension Consulting

$5,339

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