Retirement plan

BANNER & WITCOFF, LTD. 401(K) PROFIT SHARING PLAN & TRUST

Name: BANNER & WITCOFF, LTD. - BANNER & WITCOFF, LTD. 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: BANNER & WITCOFF, LTD.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANNER & WITCOFF, LTD. 401(K) PROFIT SHARING PLAN & TRUST, BANNER & WITCOFF, LTD.

BANNER & WITCOFF, LTD.EIN 36-4008943Plan #001PY 2024

71 S. WACKER DRIVE, SUITE 3600 - CHICAGO, IL 60606312-715-1000bannerwitcoff.comLinkedIn201-500 employeeslaw practice

Other plans on this EIN

2 filings

#020Retirement-$31.7M assets #021Retirement-$2.0M assets

Prospect flagsHigh assets / participant

How to read this page

Total assets (EOY)

$204.7M

+15.8% from 2023

Total participants

412

-3.3% from 2023

Average account balance

$505,335

+16.9% from 2023

Annual return

18.32%

-5.86 pp from 2023

Benchmarks

See 6,280 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,280 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$204.66M

Not enough data

1 years with asset history on file

Average account balance

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

$505K

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.

405

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.

97.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$27K

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

+18.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11

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

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Filed as: FIDELITY INVESTMENTS Service code 37 · EIN 04-2647786	Loan Processing	$0

Plan features & details

Pension benefit codes2A2E2G2J3D2R

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$5K

$18 / participant

Other / not subdivided$5K100.0%

% of EOY assets

0.002%

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: SIKICH CPA LLC
Auditor EIN: 541172176
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$505,335

$101,653+397.1%

$147,080+243.6%

$74,459+578.7%

Participation rate

97.2%

75.6%+21.6pp

82.2%+15.0pp

67.2%+29.9pp

Annual return

18.32%

8754.98%-8736.7pp

420.17%-401.8pp

1369.70%-1351.4pp

Employer contribution / active EE

$14,987

$3,813+293.0%

$4,933+203.8%

$2,626+470.7%

Participant deferral / active EE

$12,291

$7,304+68.3%

$8,066+52.4%

$4,350+182.6%

Admin fee / account holder

$11

$1,752-99.4%

$12,989-99.9%

$1,945-99.4%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Filed as: FIDELITY INVESTMENTS

Service code 37 · EIN 04-2647786

Loan Processing

BANNER & WITCOFF, LTD. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANNER & WITCOFF, LTD. 401(K) PROFIT SHARING PLAN & TRUST

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