Retirement plan

SCHILLING BROTHERS LUMBER & HARDWARE, INC. PROFIT SHARING PLAN

Name: SCHILLING BROTHERS LUMBER & HARDWARE, INC. - SCHILLING BROTHERS LUMBER & HARDWARE, INC. PROFIT SHARING PLAN (2023) Form 5500
Creator: SCHILLING BROTHERS LUMBER & HARDWARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHILLING BROTHERS LUMBER & HARDWARE, INC. PROFIT SHARING PLAN, SCHILLING BROTHERS LUMBER & HARDWARE, INC.

SCHILLING BROTHERS LUMBER & HARDWARE, INC.EIN 35-1414433Plan #002PY 2023

8252 VIRGINIA STREET, SUITE B - MERRILLVILLE, IN 46410219-736-7501schillinglumber.comLinkedIn1-10 employeespaper & forest products

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$9.8M

+25.0% from 2022

Total participants

262

+12.4% from 2022

Average account balance

$39,158

+6.9% from 2022

Annual return

13.75%

+29.77 pp from 2022

Benchmarks

See 2,288 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,288 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$10.98M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

265

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.

94.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.27M

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

+8.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$381

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 2 by compensation

Provider	Service type	Compensation
SMITH & HOWARD, PC9+ years Filed as: SMITH FINANCIAL INVESTMENT ADVISORS Service code 27 1830 S. PLATE STREET · KOKOMO, IN 46902	Advisory (Plan)	$50,032
NEWPORT GROUP, INC.8 years Service code 15 · EIN 27-2037969	Recordkeeping	$32,365

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

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

$83K

$477 / participant

Recordkeeping$7650.9%
Trustee / custodial$1K1.2%
Investment mgmt$50K60.0%
Contract admin$32K37.9%

% of EOY assets

0.855%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: HUMPHREY CPA GROUP, L.L.C.
Auditor EIN: 272586621
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,158

$54,701-28.4%

$86,188-54.6%

$71,457-45.2%

Participation rate

92.6%

60.1%+32.5pp

69.0%+23.6pp

67.9%+24.7pp

Annual return

13.75%

20.06%-6.3pp

1168.45%-1154.7pp

28.85%-15.1pp

Employer contribution / active EE

$2,610

$1,265+106.3%

$2,380+9.7%

$2,588+0.9%

Participant deferral / active EE

$4,082

$3,108+31.3%

$3,985+2.4%

$4,289-4.8%

Admin fee / account holder

$335

$1,922-82.6%

$6,852-95.1%

$1,587-78.9%

Provider

Service type

Compensation

SMITH & HOWARD, PC9+ years

Filed as: SMITH FINANCIAL INVESTMENT ADVISORS

Service code 27

1830 S. PLATE STREET · KOKOMO, IN 46902

Advisory (Plan)

$50,032

NEWPORT GROUP, INC.8 years

Service code 15 · EIN 27-2037969

Recordkeeping

$32,365

SCHILLING BROTHERS LUMBER & HARDWARE, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHILLING BROTHERS LUMBER & HARDWARE, INC. PROFIT SHARING 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