Retirement plan

BRIGGS MEDICAL SERVICE COMPANY 401(K) SAVINGS PLAN

Name: BRIGGS MEDICAL SERVICE COMPANY - BRIGGS MEDICAL SERVICE COMPANY 401(K) SAVINGS PLAN (2017) Form 5500
Creator: BRIGGS MEDICAL SERVICE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BRIGGS MEDICAL SERVICE COMPANY 401(K) SAVINGS PLAN, BRIGGS MEDICAL SERVICE COMPANY

BRIGGS MEDICAL SERVICE COMPANYEIN 36-3243123Plan #002PY 2017

4900 UNIVERSITY AVENUE - WEST DES MOINES, IA 50266515-327-6400

Prospect flagsLow returnsLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed March 19, 2018

Plan administrator

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4900 University Ave. , Suite 200

West Des Moines State: IA Zip Code: 50266

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Plans declared (1)

Briggs Medical Service Company Nonqualified Deferred Compensation Plan20 emp

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Total assets (EOY)

$22.9M

+8.3% from 2016

Total participants

834

+26.0% from 2016

Average account balance

$45,065

+14.9% from 2016

Annual return

13.86%

+6.41 pp from 2016

Benchmarks

See 1,152 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,152 peers

Snapshot2017

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Analytics

Total assets (EOY)

Plan-year ending balance

$18.58M

Not enough data

1 years with asset history on file

Average account balance

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

$94K

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.

197

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.

22.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$627K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+11.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$194

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 10 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$91,129
KESTRA INVESTMENT SERVICES LLC1 year Filed as: KESTRA ADVISORY SERVICES LLC Service code 27 · EIN 35-2552359	Advisory (Plan)	$24,500
RSM US LLP2 years Service code 10 · EIN 42-0714325	Accounting	$10,500
AMERICAN REALTY ADVISORS1 year Filed as: AMERICAN BEACON Service code 52 · EIN 75-2401150	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY1 year Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT1 year Service code 52 · EIN 04-3379729	Indirect Investment Fees	$0
OPPENHEIMER1 year Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
PARNASSUS1 year Service code 52 · EIN 94-6579180	Indirect Investment Fees	$0
THE HARTFORD1 year Service code 52 · EIN 41-6009937	Indirect Investment Fees	$0
THE VANGUARD GROUP, INC.1 year Filed as: VANGUARD Service code 52 · EIN 52-0794097	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2S2T

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.
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.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$102K

$135 / participant

Investment mgmt$79K77.2%
Contract admin$13K12.4%
Other / not subdivided$11K10.3%

% of EOY assets

0.444%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: RSMUS
Auditor EIN: 420714325
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$45,065

$75,284-40.1%

$91,004-50.5%

$69,631-35.3%

Participation rate

56.8%

80.4%-23.6pp

75.6%-18.8pp

70.7%-13.9pp

Annual return

13.86%

48.40%-34.5pp

4.60%+9.3pp

27571.02%-27557.2pp

Employer contribution / active EE

$436

$2,473-82.4%

$2,456-82.3%

$2,032-78.6%

Participant deferral / active EE

$1,527

$3,700-58.7%

$3,548-57.0%

$3,224-52.6%

Admin fee / account holder

$200

$111+80.9%

$5,417-96.3%

$110+81.2%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$91,129

KESTRA INVESTMENT SERVICES LLC1 year

Filed as: KESTRA ADVISORY SERVICES LLC

Service code 27 · EIN 35-2552359

Advisory (Plan)

$24,500

RSM US LLP2 years

Service code 10 · EIN 42-0714325

Accounting

$10,500

AMERICAN REALTY ADVISORS1 year

Filed as: AMERICAN BEACON

Service code 52 · EIN 75-2401150

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY1 year

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT1 year

Service code 52 · EIN 04-3379729

Indirect Investment Fees

OPPENHEIMER1 year

Service code 52 · EIN 93-6305075

Indirect Investment Fees

PARNASSUS1 year

Service code 52 · EIN 94-6579180

Indirect Investment Fees

THE HARTFORD1 year

Service code 52 · EIN 41-6009937

Indirect Investment Fees

THE VANGUARD GROUP, INC.1 year

Filed as: VANGUARD

Service code 52 · EIN 52-0794097

Indirect Investment Fees

BRIGGS MEDICAL SERVICE COMPANY 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BRIGGS MEDICAL SERVICE COMPANY 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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