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 (2021) 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 2021

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

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$28.6M

+18.4% from 2020

Total participants

144

+2.1% from 2020

Average account balance

$218,273

+12.1% from 2020

Annual return

18.00%

-0.69 pp from 2020

Benchmarks

See 1,682 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,682 peers

Snapshot2021

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 INSTITUTIONAL2 years Service code 37 · EIN 04-2647786	Loan Processing	$1,331

Plan features & details

Pension benefit codes2E2F2G2J2T3D2R

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

$3K

$25 / participant

Investment mgmt$2K55.8%
Other / not subdivided$1K44.2%

% of EOY assets

0.011%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSENALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$218,273

$63,768+242.3%

$98,506+121.6%

$79,389+174.9%

Participation rate

89.0%

69.9%+19.1pp

73.3%+15.6pp

70.7%+18.3pp

Annual return

18.00%

626.18%-608.2pp

1494.92%-1476.9pp

116.89%-98.9pp

Employer contribution / active EE

$3,863

$2,558+51.0%

$2,961+30.5%

$2,428+59.1%

Participant deferral / active EE

$4,480

$3,305+35.6%

$4,277+4.8%

$4,046+10.7%

Admin fee / account holder

$23

$516-95.5%

$5,955-99.6%

$626-96.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Service code 37 · EIN 04-2647786

Loan Processing

$1,331

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