Retirement plan

SCOTT BYRON & CO. , INC. SALARY SAVINGS AND PROFIT SHARING PLAN

Name: SCOTT BYRON & CO., INC. - SCOTT BYRON & CO. , INC. SALARY SAVINGS AND PROFIT SHARING PLAN (2023) Form 5500
Creator: SCOTT BYRON & CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCOTT BYRON & CO. , INC. SALARY SAVINGS AND PROFIT SHARING PLAN, SCOTT BYRON & CO., INC.

SCOTT BYRON & CO., INC.EIN 36-3217398Plan #002PY 2023

30088 N. SKOKIE HIGHWAY - LAKE BLUFF, IL 60044847-689-0266scottbyron.comLinkedIn201-500 employeesarchitecture & planning

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$11.1M

+17.9% from 2022

Total participants

240

-16.7% from 2022

Average account balance

$96,143

+16.8% from 2022

Annual return

20.59%

+38.34 pp from 2022

Benchmarks

See 538 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants100-249

Cohort538 peers

Snapshot2023

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$12.59M

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

131

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.

69.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$491K

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

+12.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$473

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 3 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY6 years Filed as: JOHN HANCOCK RETIRMENT PLAN SVRCS Service code 15 · EIN 01-0233346	Recordkeeping	$29,444
MESIROW FINANCIAL INVESTMENT MANAGE9+ years Filed as: MESIROW FINANCIAL Service code 27 353 N. CLARK STREET · CHICAGO, IL 60654	Advisory (Plan)	$20,835
JAMES M MOYNA CPA PC3 years Filed as: JAMES M MOYNA Service code 10 · EIN 47-2940358	Accounting	$10,000

Plan features & details

Pension benefit codes2A2E2H2J2K3D3H2T

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.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$60K

$337 / participant

Investment mgmt$31K51.2%
Contract admin$29K48.8%

% of EOY assets

0.545%

all-in expense ratio

Categories reported

2 / 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: SMITH & HOWARD, PC
Auditor EIN: 581250486
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$96,143

$57,651+66.8%

$112,229-14.3%

$71,457+34.5%

Participation rate

30.2%

58.9%-28.8pp

72.4%-42.3pp

67.9%-37.8pp

Annual return

20.59%

18.32%+2.3pp

30.20%-9.6pp

28.85%-8.3pp

Employer contribution / active EE

$1,913-100.0%

$3,430-100.0%

$2,588-100.0%

Participant deferral / active EE

$1,633

$2,863-42.9%

$4,798-66.0%

$4,289-61.9%

Admin fee / account holder

$524

$1,581-66.9%

$7,748-93.2%

$1,587-67.0%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY6 years

Filed as: JOHN HANCOCK RETIRMENT PLAN SVRCS

Service code 15 · EIN 01-0233346

Recordkeeping

$29,444

MESIROW FINANCIAL INVESTMENT MANAGE9+ years

Filed as: MESIROW FINANCIAL

Service code 27

353 N. CLARK STREET · CHICAGO, IL 60654

Advisory (Plan)

$20,835

JAMES M MOYNA CPA PC3 years

Filed as: JAMES M MOYNA

Service code 10 · EIN 47-2940358

Accounting

$10,000

SCOTT BYRON & CO. , INC. SALARY SAVINGS AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCOTT BYRON & CO. , INC. SALARY SAVINGS AND 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