Retirement plan

BERENDS, HENDRICKS & STUIT INSURANCE AGENCY 401(K) RETIREMENT PLAN

Name: BERENDS, HENDRICKS, & STUIT INS. AGENCY, INC - BERENDS, HENDRICKS & STUIT INSURANCE AGENCY 401(K) RETIREMENT PLAN (2016) Form 5500
Creator: BERENDS, HENDRICKS, & STUIT INS. AGENCY, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERENDS, HENDRICKS & STUIT INSURANCE AGENCY 401(K) RETIREMENT PLAN, BERENDS, HENDRICKS, & STUIT INS. AGENCY, INC

BERENDS, HENDRICKS, & STUIT INS. AGENCY, INCEIN 38-2555560Plan #001PY 2016

3055 44TH ST SW - GRANDVILLE, MI 494182501616-531-1900LinkedIn11-50 employees

Prospect flagsLow employer contributionLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$19.9M

+4.9% from 2015

Total participants

124

0.0% from 2015

Average account balance

$164,134

+3.2% from 2015

Annual return

8.78%

+8.38 pp from 2015

Benchmarks

See 155 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Cohort155 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.47M

Not enough data

1 years with asset history on file

Average account balance

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

$173K

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.

211

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.

95.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+14.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$400

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 3 by compensation

Provider	Service type	Compensation
NFP RETIREMENT INC2+ years Filed as: NFP INSURANCE SERVICES INC Service code 49 · EIN 74-2470431	Other Services	$2,070
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290	Contract Administrator	$1,346
WILSHIRE ASSOCIATES INCORPORATED2+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$1K

$14 / participant

Contract admin$1K100.0%

% of EOY assets

0.007%

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: BEENE GARTER LLP
Auditor EIN: 381337372
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$164,134

$676,477-75.7%

$133,975+22.5%

Participation rate

97.0%

86.1%+10.9pp

87.1%+9.9pp

Annual return

8.78%

1.79%+7.0pp

29.29%-20.5pp

Employer contribution / active EE

$9,651

$3,505+175.4%

$5,211+85.2%

Participant deferral / active EE

$5,297

$5,893-10.1%

$6,282-15.7%

Admin fee / account holder

$11

$42,217-100.0%

$9,324-99.9%

Provider

Service type

Compensation

NFP RETIREMENT INC2+ years

Filed as: NFP INSURANCE SERVICES INC

Service code 49 · EIN 74-2470431

Other Services

$2,070

PRINCIPAL LIFE INSURANCE COMPANY2+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$1,346

WILSHIRE ASSOCIATES INCORPORATED2+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

BERENDS, HENDRICKS & STUIT INSURANCE AGENCY 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERENDS, HENDRICKS & STUIT INSURANCE AGENCY 401(K) RETIREMENT 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