Retirement plan

BAKER FINANCIAL GROUP 401(K) PLAN AND TRUST

Name: THE BAKER GROUP - BAKER FINANCIAL GROUP 401(K) PLAN AND TRUST (2020) Form 5500
Creator: THE BAKER GROUP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAKER FINANCIAL GROUP 401(K) PLAN AND TRUST, THE BAKER GROUP

THE BAKER GROUPEIN 38-1976980Plan #001PY 2020

26400 LAHSER RD STE 312 - SOUTHFIELD, MI 480332675248-355-4100bakergroup.orgLinkedIn11-50 employeesfinancial services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$509K

-26.7% from 2019

Total participants

-11.1% from 2019

Average account balance

$84,756

-14.4% from 2019

Annual return

4.08%

-17.72 pp from 2019

Benchmarks

See 32,151 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort32,151 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$507K

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$62K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+16.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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

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 codes2E2F2G2J2R3D

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.
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

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.

Expense breakdown

Schedule H Part II

Admin total

$290K

$36188 / participant

Other / not subdivided$290K100.0%

% of EOY assets

56.929%

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

$84,756

$197,625-57.1%

$177,840-52.3%

$158,966-46.7%

Participation rate

75.0%

88.5%-13.5pp

87.7%-12.7pp

82.0%-7.0pp

Annual return

4.08%

58.76%-54.7pp

48.32%-44.2pp

302.95%-298.9pp

Employer contribution / active EE

$2,862

$6,698-57.3%

$5,919-51.6%

$4,762-39.9%

Participant deferral / active EE

$6,682

$8,405-20.5%

$7,714-13.4%

$5,983+11.7%

Admin fee / account holder

$48,251

$15,405+213.2%

$12,431+288.2%

$11,250+328.9%

BAKER FINANCIAL GROUP 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BAKER FINANCIAL GROUP 401(K) 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