Retirement plan

FOLK OIL COMPANY, INC. 401K PROFIT SHARING PLAN

Name: FOLK OIL COMPANY, INC. - FOLK OIL COMPANY, INC. 401K PROFIT SHARING PLAN (2022) Form 5500
Creator: FOLK OIL COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FOLK OIL COMPANY, INC. 401K PROFIT SHARING PLAN, FOLK OIL COMPANY, INC.

FOLK OIL COMPANY, INC.EIN 38-1966492Plan #001PY 2022

203 W MAIN - HOMER, MI 49245517-568-4114folkoil.comLinkedIn1-10 employeesoil & energy

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$5.9M

-17.7% from 2021

Total participants

290

+14.2% from 2021

Average account balance

$28,295

-25.6% from 2021

Annual return

-23.86%

-48.08 pp from 2021

Benchmarks

See 2,205 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,205 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.14M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

200

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.

54.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$645K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+30.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$24

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 2 by compensation

Provider	Service type	Compensation
EPIC RETIREMENT PLAN SERVICES7+ years Filed as: KDP RETIREMENT PLAN SERVICES Service code 10 3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512	Accounting	$5,265
AMERICAN FUNDS5 years Filed as: CAPITAL RESEARCH AND MANAGEMENT CO Service code 15 333 S HOPE STREET · LOS ANGELES, CA 90071	Recordkeeping	$1,775

Plan features & details

Pension benefit codes2E2J2K2F3D2G

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$7K

$30 / participant

Contract admin$7K100.0%

% of EOY assets

0.118%

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: BOSWELL SCHULTZ SONNENBERG & ARNETT
Auditor EIN: 571225176
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,295

$49,451-42.8%

$79,580-64.4%

$66,938-57.7%

Participation rate

65.4%

61.3%+4.0pp

69.5%-4.1pp

69.8%-4.4pp

Annual return

-23.86%

84.25%-108.1pp

0.15%-24.0pp

1.58%-25.4pp

Employer contribution / active EE

$778

$1,266-38.5%

$2,413-67.8%

$2,545-69.4%

Participant deferral / active EE

$1,724

$3,159-45.4%

$3,985-56.8%

$4,238-59.3%

Admin fee / account holder

$34

$595-94.4%

$6,835-99.5%

$594-94.4%

Provider

Service type

Compensation

EPIC RETIREMENT PLAN SERVICES7+ years

Filed as: KDP RETIREMENT PLAN SERVICES

Service code 10

3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512

Accounting

$5,265

AMERICAN FUNDS5 years

Filed as: CAPITAL RESEARCH AND MANAGEMENT CO

Service code 15

333 S HOPE STREET · LOS ANGELES, CA 90071

Recordkeeping

$1,775

FOLK OIL COMPANY, INC. 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FOLK OIL COMPANY, INC. 401K 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