Retirement plan

SPITZER MANAGEMENT INC PROFIT SHARING AND SAVINGS PLAN

Name: SPITZER MANAGEMENT, INC. - SPITZER MANAGEMENT INC PROFIT SHARING AND SAVINGS PLAN (2020) Form 5500
Creator: SPITZER MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPITZER MANAGEMENT INC PROFIT SHARING AND SAVINGS PLAN, SPITZER MANAGEMENT, INC.

SPITZER MANAGEMENT, INC.EIN 34-0795747Plan #001PY 2020

150 EAST BRIDGE STREET - ELYRIA, OH 440355219440-323-4671LinkedIn501-1000 employeespublishing

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$110.3M

+35.7% from 2019

Total participants

1,071

+9.7% from 2019

Average account balance

$113,672

+26.5% from 2019

Annual return

39.78%

+14.56 pp from 2019

Benchmarks

See 2,819 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort2,819 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$106.61M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

1,337

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.

84.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.61M

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

+19.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$296

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 5 by compensation

Provider	Service type	Compensation
SPIRA BENEFITS, LLC4 years Service code 37 · EIN 45-4211533	Loan Processing	$136,722
SAGA PARTNERS LLC2 years Service code 27 · EIN 27-4563652	Advisory (Plan)	$100,000
FIRST NATIONAL BANK OF OMAHA6+ years Filed as: FIRST NATIONAL BANK Service code 27 · EIN 20-0433578	Advisory (Plan)	$77,201
HOBE & LUCAS, CPA'S3 years Service code 10 · EIN 31-1488076	Accounting	$16,500
SOMERS AGENCY5 years Service code 22 · EIN 45-4747357	Insurance Broker	$5,048

Plan features & details

Pension benefit codes2E2H2J2K3H2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

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.)

Expense breakdown

Schedule H Part II

Admin total

$342K

$696 / participant

Investment mgmt$177K51.8%
Contract admin$137K40.0%
Other / not subdivided$28K8.2%

% of EOY assets

0.310%

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: HOBE & LUCAS, CPA'S
Auditor EIN: 311488076
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$113,672

$100,801+12.8%

$149,730-24.1%

$73,412+54.8%

Participation rate

79.4%

77.7%+1.7pp

82.5%-3.1pp

72.2%+7.3pp

Annual return

39.78%

265.34%-225.6pp

276.70%-236.9pp

59.30%-19.5pp

Employer contribution / active EE

$1,564

$3,312-52.8%

$4,645-66.3%

$2,234-30.0%

Participant deferral / active EE

$2,684

$6,404-58.1%

$6,843-60.8%

$3,806-29.5%

Admin fee / account holder

$353

$181+95.0%

$9,310-96.2%

$158+123.3%

Provider

Service type

Compensation

SPIRA BENEFITS, LLC4 years

Service code 37 · EIN 45-4211533

Loan Processing

$136,722

SAGA PARTNERS LLC2 years

Service code 27 · EIN 27-4563652

Advisory (Plan)

$100,000

FIRST NATIONAL BANK OF OMAHA6+ years

Filed as: FIRST NATIONAL BANK

Service code 27 · EIN 20-0433578

Advisory (Plan)

$77,201

HOBE & LUCAS, CPA'S3 years

Service code 10 · EIN 31-1488076

Accounting

$16,500

SOMERS AGENCY5 years

Service code 22 · EIN 45-4747357

Insurance Broker

$5,048

SPITZER MANAGEMENT INC PROFIT SHARING AND SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPITZER MANAGEMENT INC PROFIT SHARING AND SAVINGS 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