Retirement plan

FIRST MIDWEST GROUP 401(K) PLAN

Name: FIRST ROCKFORD GROUP, INC. - FIRST MIDWEST GROUP 401(K) PLAN (2022) Form 5500
Creator: FIRST ROCKFORD GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST MIDWEST GROUP 401(K) PLAN, FIRST ROCKFORD GROUP, INC.

FIRST ROCKFORD GROUP, INC.EIN 36-3348156Plan #001PY 2022

6801 SPRING CREEK ROAD - ROCKFORD, IL 61114815-229-3000

Prospect flagsLow participationLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$3.9M

-9.9% from 2021

Total participants

209

-14.0% from 2021

Average account balance

$34,013

-9.1% from 2021

Annual return

-11.63%

-27.66 pp from 2021

Benchmarks

See 1,010 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants100-249

Cohort1,010 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.34M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

47.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$298K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+15.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2658

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

Top 1 by compensation

Provider	Service type	Compensation
SAVANT CAPITAL MANAGEMENT7 years Service code 24 · EIN 45-3812777	Discretionary Trustee	$26,943

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

3 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$28K

$164 / participant

Other / not subdivided$28K100.0%

% of EOY assets

0.722%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MILLER COOPER & CO., LTD
Auditor EIN: 362897372
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,013

$59,105-42.5%

$160,009-78.7%

$66,938-49.2%

Participation rate

46.6%

68.1%-21.5pp

78.0%-31.4pp

69.8%-23.3pp

Annual return

-11.63%

-12.26%+0.6pp

408.85%-420.5pp

1.58%-13.2pp

Employer contribution / active EE

$512

$1,983-74.2%

$4,225-87.9%

$2,545-79.9%

Participant deferral / active EE

$1,852

$4,395-57.9%

$6,183-70.1%

$4,238-56.3%

Admin fee / account holder

$246

$591-58.4%

$8,715-97.2%

$594-58.6%

Provider

Service type

Compensation

SAVANT CAPITAL MANAGEMENT7 years

Service code 24 · EIN 45-3812777

Discretionary Trustee

$26,943

FIRST MIDWEST GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST MIDWEST GROUP 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