Retirement plan

SPITZER MANAGEMENT INC PROFIT SHARING AND SAVINGS PLAN

Name: SPITZER MANAGEMENT, INC. - SPITZER MANAGEMENT INC PROFIT SHARING AND SAVINGS PLAN (2022) 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 2022

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

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$76.8M

-30.0% from 2021

Total participants

1,236

+5.5% from 2021

Average account balance

$67,405

-36.6% from 2021

Annual return

-28.24%

-30.83 pp from 2021

Benchmarks

See 3,159 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,159 peers

Snapshot2022

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 6 by compensation

Provider	Service type	Compensation
SPIRA BENEFITS, LLC6 years Service code 37 · EIN 45-4211533	Loan Processing	$143,543
SAGA PARTNERS LLC4 years Service code 27 · EIN 27-4563652	Advisory (Plan)	$100,000
FIRST NATIONAL BANK OF OMAHA8+ years Filed as: FIRST NATIONAL BANK Service code 27 · EIN 20-0433578	Advisory (Plan)	$83,124
HOBE & LUCAS, CPA'S5 years Service code 10 · EIN 31-1488076	Accounting	$18,000
MCDONALD HOPKINS, LLC5 years Filed as: MCDONALD HOPKINS Service code 29 · EIN 34-1059058	Legal	$16,334
SOMERS AGENCY7 years Service code 22 · EIN 45-4747357	Insurance Broker	$5,350

Plan features & details

Pension benefit codes2E2F2H2J2K2S2T3H

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).
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

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.

Expense breakdown

Schedule H Part II

Admin total

$369K

$599 / participant

Investment mgmt$183K49.6%
Contract admin$144K38.9%
Other / not subdivided$43K11.6%

% of EOY assets

0.481%

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

$67,405

$82,163-18.0%

$125,381-46.2%

$64,819+4.0%

Participation rate

84.4%

77.9%+6.6pp

82.4%+2.1pp

71.5%+13.0pp

Annual return

-28.24%

3.49%-31.7pp

572.31%-600.5pp

32.84%-61.1pp

Employer contribution / active EE

$3,128

$3,616-13.5%

$4,815-35.0%

$2,507+24.8%

Participant deferral / active EE

$4,414

$7,175-38.5%

$7,448-40.7%

$4,311+2.4%

Admin fee / account holder

$324

$163+98.5%

$10,007-96.8%

$188+72.5%

Provider

Service type

Compensation

SPIRA BENEFITS, LLC6 years

Service code 37 · EIN 45-4211533

Loan Processing

$143,543

SAGA PARTNERS LLC4 years

Service code 27 · EIN 27-4563652

Advisory (Plan)

$100,000

FIRST NATIONAL BANK OF OMAHA8+ years

Filed as: FIRST NATIONAL BANK

Service code 27 · EIN 20-0433578

Advisory (Plan)

$83,124

HOBE & LUCAS, CPA'S5 years

Service code 10 · EIN 31-1488076

Accounting

$18,000

MCDONALD HOPKINS, LLC5 years

Filed as: MCDONALD HOPKINS

Service code 29 · EIN 34-1059058

Legal

$16,334

SOMERS AGENCY7 years

Service code 22 · EIN 45-4747357

Insurance Broker

$5,350

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