Retirement plan

SHERRIFF-GOSLIN COMPANY PROFIT SHARING PLAN

Name: SHERRIFF-GOSLIN COMPANY - SHERRIFF-GOSLIN COMPANY PROFIT SHARING PLAN (2020) Form 5500
Creator: SHERRIFF-GOSLIN COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHERRIFF-GOSLIN COMPANY PROFIT SHARING PLAN, SHERRIFF-GOSLIN COMPANY

SHERRIFF-GOSLIN COMPANYEIN 38-1028265Plan #001PY 2020

10 AVENUE C - BATTLE CREEK, MI 49037269-962-4036sherriff-goslin.comLinkedIn201-500 employeesconstruction

Prospect flagsLow returnsHigh feesLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$7.5M

-8.5% from 2019

Total participants

278

+40.4% from 2019

Average account balance

$27,447

-47.1% from 2019

Annual return

11.16%

-1.25 pp from 2019

Benchmarks

See 2,939 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,939 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.25M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

193

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.

96.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+10.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$406

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 5 by compensation

Provider	Service type	Compensation
COMERICA BANK1 year Filed as: COMERICA SECURITIES INC Service code 27 · EIN 38-2621207	Advisory (Plan)	$19,331
TRANSAMERICA RETIREMENT SOLUTIONS2 years Service code 15 · EIN 13-3689044	Recordkeeping	$12,066
PLANTE & MORAN, PLLC1 year Service code 10 · EIN 38-1357951	Accounting	$12,000
ENVESTNET RETIREMENT SOLUTIONS, LLC1 year Filed as: EVNESTNET RETIREMENT SOLUTIONS Service code 27 · EIN 61-1732930	Advisory (Plan)	$2,776
M2B RETIREMENT CONSULTING LLC1 year Filed as: M2B RETIREMENT CONSULTING, LLC Service code 15 · EIN 81-3989034	Recordkeeping	$525

Plan features & details

Pension benefit codes2A2E2G2T3D2J2F

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.
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.
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

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$83K

$487 / participant

Investment mgmt$83K100.0%

% of EOY assets

1.096%

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: PLANTE & MORAN
Auditor EIN: 351357951
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,447

$69,383-60.4%

$101,271-72.9%

$73,493-62.7%

Participation rate

98.2%

68.4%+29.9pp

75.8%+22.4pp

70.7%+27.6pp

Annual return

11.16%

18.46%-7.3pp

46.48%-35.3pp

28.51%-17.3pp

Employer contribution / active EE

$522

$2,628-80.1%

$3,660-85.7%

$2,270-77.0%

Participant deferral / active EE

$2,680

$3,301-18.8%

$4,371-38.7%

$3,740-28.3%

Admin fee / account holder

$301

$704-57.3%

$5,948-94.9%

$513-41.4%

Provider

Service type

Compensation

COMERICA BANK1 year

Filed as: COMERICA SECURITIES INC

Service code 27 · EIN 38-2621207

Advisory (Plan)

$19,331

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Service code 15 · EIN 13-3689044

Recordkeeping

$12,066

PLANTE & MORAN, PLLC1 year

Service code 10 · EIN 38-1357951

Accounting

$12,000

ENVESTNET RETIREMENT SOLUTIONS, LLC1 year

Filed as: EVNESTNET RETIREMENT SOLUTIONS

Service code 27 · EIN 61-1732930

Advisory (Plan)

$2,776

M2B RETIREMENT CONSULTING LLC1 year

Filed as: M2B RETIREMENT CONSULTING, LLC

Service code 15 · EIN 81-3989034

Recordkeeping

$525

SHERRIFF-GOSLIN COMPANY PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHERRIFF-GOSLIN COMPANY PROFIT SHARING 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