Retirement plan

BLUE WING OLIVE 401(K) PLAN

Name: FILLMORE WEST INVESTMENT TRUST - BLUE WING OLIVE 401(K) PLAN (2021) Form 5500
Creator: FILLMORE WEST INVESTMENT TRUST
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BLUE WING OLIVE 401(K) PLAN, FILLMORE WEST INVESTMENT TRUST

FILLMORE WEST INVESTMENT TRUSTEIN 32-6234101Plan #001PY 2021

221 N. HOGAN ST. / SUITE 403 - JACKSONVILLE, FL 32202904-807-8204LinkedIn51-200 employeesinvestment management

Prospect flagsHigh retiree %Low returnsHigh feesLow participationLow assets / participantLow participant contributionLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$1.9M

+31.4% from 2020

Total participants

290

+130.2% from 2020

Average account balance

$37,488

+3.1% from 2020

Annual return

9.45%

-6.01 pp from 2020

Benchmarks

See 2,179 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,179 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.73M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

107

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.

65.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.04M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3880

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

0 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
MERRILL LYNCH PIERCE FENNER & SMITH3 years Filed as: MERRILL LYNCH - EPS Service code 26 · EIN 13-5674085 150 N. COLLEGE ST. · CHAROLOTTE, NC 28255	Advisory (Participants)	$4,002
MERRILL LYNCH PIERCE FENNER & SMITH3 years Filed as: MERRILL LYNCH - FAS Service code 26 · EIN 13-5674085 150 N. COLLEGE ST. · CHARLOTTE, NC 28255	Advisory (Participants)	$4,002
JOHN HANCOCK LIFE INSURANCE COMPANY3 years Service code 15 · EIN 01-0233346	Recordkeeping	$98

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H2K

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.
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

8 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$24K

$161 / participant

Investment mgmt$8K32.7%
Contract admin$16K66.7%
Other / not subdivided$1500.6%

% of EOY assets

1.280%

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: MAYER HOFFMAN MCCANN PC
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,488

$121,341-69.1%

$189,520-80.2%

$79,393-52.8%

Participation rate

0.0%

86.1%-86.1pp

87.8%-87.8pp

70.7%-70.7pp

Annual return

9.45%

21.08%-11.6pp

555.25%-545.8pp

116.87%-107.4pp

Employer contribution / active EE

$3,915-100.0%

$6,161-100.0%

$2,428-100.0%

Participant deferral / active EE

$2,358

$6,395-63.1%

$8,220-71.3%

$4,046-41.7%

Admin fee / account holder

$480

$651-26.3%

$12,046-96.0%

$627-23.4%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Filed as: MERRILL LYNCH - EPS

Service code 26 · EIN 13-5674085

150 N. COLLEGE ST. · CHAROLOTTE, NC 28255

Advisory (Participants)

$4,002

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Filed as: MERRILL LYNCH - FAS

Service code 26 · EIN 13-5674085

150 N. COLLEGE ST. · CHARLOTTE, NC 28255

Advisory (Participants)

$4,002

JOHN HANCOCK LIFE INSURANCE COMPANY3 years

Service code 15 · EIN 01-0233346

Recordkeeping

$98

BLUE WING OLIVE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BLUE WING OLIVE 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