Retirement plan

PETROSMITH 401(K) PLAN

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

PETROSMITH LLCEIN 32-0376135Plan #001PY 2022

PO BOX 6291 - ABILENE, TX 79608325-691-1085petrosmith.comLinkedIn201-500 employeesconsumer goods

Prospect flagsHigh cashLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$4.3M

-2.7% from 2021

Total participants

272

-42.1% from 2021

Average account balance

$15,880

-7.7% from 2021

Annual return

-13.87%

-26.93 pp from 2021

Benchmarks

See 1,338 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,338 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.10M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

216

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.

37.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.06M

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

+46.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$108

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 1 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EDWARD D JONES & CO LP Service code 27 12555 MANCHESTER RD · ST LOUIS, MO 63131	Advisory (Plan)	$9,873

Plan features & details

Pension benefit codes2F2G2J2K3D2E

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.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$3K

$12 / participant

Investment mgmt$3K100.0%

% of EOY assets

0.073%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CONDLEY AND COMPANY
Auditor EIN: 751056027
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,880

$71,142-77.7%

$119,622-86.7%

$64,819-75.5%

Participation rate

100.0%

78.6%+21.4pp

79.3%+20.7pp

71.5%+28.5pp

Annual return

-13.87%

-10.01%-3.9pp

-14.98%+1.1pp

32.84%-46.7pp

Employer contribution / active EE

$999

$2,497-60.0%

$4,232-76.4%

$2,507-60.1%

Participant deferral / active EE

$1,669

$4,490-62.8%

$5,601-70.2%

$4,311-61.3%

Admin fee / account holder

$12

$162-92.8%

$10,328-99.9%

$188-93.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EDWARD D JONES & CO LP

Service code 27

12555 MANCHESTER RD · ST LOUIS, MO 63131

Advisory (Plan)

$9,873

PETROSMITH 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PETROSMITH 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