Retirement plan

MICHIGAN STATE BREWERS & DISTRIBUTORS SEVERANCE & RETIREMENT PLAN & TRUST

Name: JOINT BOARD OF TRUSTEES - MICHIGAN STATE BREWERS & DISTRIBUTORS SEVERANCE & RETIREMENT PLAN & TRUST (2021) Form 5500
Creator: JOINT BOARD OF TRUSTEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHIGAN STATE BREWERS & DISTRIBUTORS SEVERANCE & RETIREMENT PLAN & TRUST, JOINT BOARD OF TRUSTEES

JOINT BOARD OF TRUSTEESEIN 38-2094736Plan #002PY 2021

345 DIVERSION ROAD, SUITE 400 - ROCHESTER, MI 48307248-646-3939

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$7.7M

-6.0% from 2020

Total participants

137

-15.4% from 2020

Average account balance

$56,115

+11.2% from 2020

Annual return

12.85%

-2.17 pp from 2020

Benchmarks

See 9,035 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,035 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.83M

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

100

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.

113.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$196K

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

+13.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6555

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

Top 3 by compensation

Provider	Service type	Compensation
SIGMA FINANCIAL CORPORATION1 year Filed as: SIGMA PLANNING CORPORATION Service code 26 · EIN 38-2472558	Advisory (Participants)	$10,020
SECURE ASSET MANAGEMENT1 year Service code 26 · EIN 14-1996228	Advisory (Participants)	$5,630
JOHN HANCOCK LIFE INSURANCE COMPANY7+ years Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 14201	Recordkeeping	$422

Plan features & details

Pension benefit codes2E2G2J2K2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant 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.)

Expense breakdown

Schedule H Part II

Admin total

$71K

$1186 / participant

Investment mgmt$16K22.0%
Contract admin$31K43.6%
Other / not subdivided$25K34.5%

% of EOY assets

0.926%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARNAGHI & SCHWARK PLLC
Auditor EIN: 461506714
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$56,115

$100,003-43.9%

$146,685-61.7%

$85,856-34.6%

Participation rate

100.0%

73.1%+26.9pp

80.1%+19.9pp

69.3%+30.7pp

Annual return

12.85%

18.93%-6.1pp

22.75%-9.9pp

318.58%-305.7pp

Employer contribution / active EE

$2,395

$2,559-6.4%

$4,137-42.1%

$2,565-6.6%

Participant deferral / active EE

$1,466

$4,006-63.4%

$5,507-73.4%

$3,952-62.9%

Admin fee / account holder

$520

$7,704-93.3%

$10,281-94.9%

$6,261-91.7%

Provider

Service type

Compensation

SIGMA FINANCIAL CORPORATION1 year

Filed as: SIGMA PLANNING CORPORATION

Service code 26 · EIN 38-2472558

Advisory (Participants)

$10,020

SECURE ASSET MANAGEMENT1 year

Service code 26 · EIN 14-1996228

Advisory (Participants)

$5,630

JOHN HANCOCK LIFE INSURANCE COMPANY7+ years

Service code 15 · EIN 01-0233346

P.O. BOX 600 · BUFFALO, NY 14201

Recordkeeping

$422

MICHIGAN STATE BREWERS & DISTRIBUTORS SEVERANCE & RETIREMENT PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHIGAN STATE BREWERS & DISTRIBUTORS SEVERANCE & RETIREMENT PLAN & 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