Retirement plan

SPENCE BROTHERS PROFIT SHARING/401(K) PLAN

Name: SPENCE BROTHERS - SPENCE BROTHERS PROFIT SHARING/401(K) PLAN (2015) Form 5500
Creator: SPENCE BROTHERS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPENCE BROTHERS PROFIT SHARING/401(K) PLAN, SPENCE BROTHERS

SPENCE BROTHERSEIN 38-1055820Plan #005PY 2015

417 MCCOSKRY STREET - SAGINAW, MI 48601989-752-0400spencebrothers.comLinkedIn51-200 employeesconstruction

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed August 26, 2022

Plan administrator

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203 S. Washington Ave. Suite 360

Saginaw, MI 48607

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Plans declared (1)

Spence Brothers Deferred Phantom Stock Plan9 emp

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Total assets (EOY)

$7.6M

No prior year

Total participants

No prior year

Average account balance

$148,323

No prior year

Annual return

0.31%

No prior year

Benchmarks

See 11,458 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort11,458 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.75M

Not enough data

1 years with asset history on file

Average account balance

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

$225K

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.

116.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.07M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+13.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$31763

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

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Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D2T

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$171K

$3802 / participant

Other / not subdivided$171K100.0%

% of EOY assets

2.262%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$148,323

$52,678+181.6%

$75,784+95.7%

$59,633+148.7%

Participation rate

100.0%

67.2%+32.8pp

75.8%+24.2pp

68.7%+31.3pp

Annual return

0.31%

2.95%-2.6pp

9.68%-9.4pp

2041.45%-2041.1pp

Employer contribution / active EE

$2,919

$2,193+33.1%

$3,323-12.2%

$2,203+32.5%

Participant deferral / active EE

$5,592

$2,591+115.9%

$3,652+53.1%

$3,192+75.2%

Admin fee / account holder

$3,355

$3,610-7.1%

$5,300-36.7%

$4,297-21.9%

SPENCE BROTHERS PROFIT SHARING/401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPENCE BROTHERS PROFIT SHARING/401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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