Retirement plan

NORTHERN OHIO GRAIN CO-OP 401 K PLAN

Name: NORTHERN OHIO GRAIN CO-OP, INC. - NORTHERN OHIO GRAIN CO-OP 401 K PLAN (2023) Form 5500
Creator: NORTHERN OHIO GRAIN CO-OP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHERN OHIO GRAIN CO-OP 401 K PLAN, NORTHERN OHIO GRAIN CO-OP, INC.

NORTHERN OHIO GRAIN CO-OP, INC.EIN 34-1697020Plan #002PY 2023

P.O. BOX 255 - GRAND RAPIDS, OH 43522419-832-4931LinkedIn11-50 employeesfarming

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

-3.9% from 2022

Total participants

+9.1% from 2022

Average account balance

$100,066

-3.9% from 2022

Annual return

-4.42%

-8.26 pp from 2022

Benchmarks

See 23,814 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,814 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.59M

Not enough data

1 years with asset history on file

Average account balance

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

$114K

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.

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.

127.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$137K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+9.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1298

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J2F3D

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.
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

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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$128K

$12841 / participant

Other / not subdivided$128K100.0%

% of EOY assets

11.666%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$100,066

$154,193-35.1%

$130,045-23.1%

$139,466-28.3%

Participation rate

90.0%

82.0%+8.0pp

78.5%+11.5pp

80.3%+9.7pp

Annual return

-4.42%

32.51%-36.9pp

-137.30%+132.9pp

373.66%-378.1pp

Employer contribution / active EE

$6,777

$5,292+28.1%

$4,321+56.8%

$4,754+42.6%

Participant deferral / active EE

$5,192

$6,709-22.6%

$5,820-10.8%

$6,712-22.6%

Admin fee / account holder

$11,673

$13,989-16.6%

$10,600+10.1%

$11,409+2.3%

NORTHERN OHIO GRAIN CO-OP 401 K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHERN OHIO GRAIN CO-OP 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