Retirement plan

ILLINOIS FARM BUSINESS FARM MANAGEMENT ASSOCIATION 401(K) RETIREMENT PLAN AND TRUST

Name: ILLINOIS FARM BUSINESS FARM MANAGEMENT ASSOCIATION - ILLINOIS FARM BUSINESS FARM MANAGEMENT ASSOCIATION 401(K) RETIREMENT PLAN AND TRUST (2020) Form 5500
Creator: ILLINOIS FARM BUSINESS FARM MANAGEMENT ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ILLINOIS FARM BUSINESS FARM MANAGEMENT ASSOCIATION 401(K) RETIREMENT PLAN AND TRUST, ILLINOIS FARM BUSINESS FARM MANAGEMENT ASSOCIATION

ILLINOIS FARM BUSINESS FARM MANAGEMENT ASSOCIATIONEIN 37-6046462Plan #002PY 2020

1101 W PEABODY DR, 165 NSRC - URBANA, IL 61801217-333-5511

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$24.1M

+18.5% from 2019

Total participants

141

+14.6% from 2019

Average account balance

$194,685

+12.8% from 2019

Annual return

18.69%

-4.77 pp from 2019

Benchmarks

See 1,687 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,687 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$29.95M

Not enough data

1 years with asset history on file

Average account balance

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

$191K

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.

157

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.

84.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.40M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+16.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$78

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 INSTITUTIONAL1 year Service code 37 · EIN 04-2647786	Loan Processing	$838

Plan features & details

Pension benefit codes2E2F2G2J2R2T3D

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

1 tripped

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

$2K

$19 / participant

Investment mgmt$1K61.9%
Other / not subdivided$83838.1%

% of EOY assets

0.009%

all-in expense ratio

Categories reported

1 / 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: CLIFTONLARSENALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$194,685

$66,124+194.4%

$90,461+115.2%

$73,497+164.9%

Participation rate

85.7%

69.7%+16.0pp

72.7%+13.0pp

70.7%+15.0pp

Annual return

18.69%

17.65%+1.0pp

1294.76%-1276.1pp

28.51%-9.8pp

Employer contribution / active EE

$3,599

$2,346+53.4%

$3,264+10.3%

$2,270+58.6%

Participant deferral / active EE

$4,204

$3,039+38.3%

$3,964+6.0%

$3,740+12.4%

Admin fee / account holder

$18

$396-95.5%

$5,617-99.7%

$513-96.5%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Service code 37 · EIN 04-2647786

Loan Processing

$838

ILLINOIS FARM BUSINESS FARM MANAGEMENT ASSOCIATION 401(K) RETIREMENT PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ILLINOIS FARM BUSINESS FARM MANAGEMENT ASSOCIATION 401(K) RETIREMENT PLAN AND 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