Retirement plan

R L MORGAN COMPANY PROFIT SHARING PLAN

Name: R L MORGAN COMPANY - R L MORGAN COMPANY PROFIT SHARING PLAN (2023) Form 5500
Creator: R L MORGAN COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, R L MORGAN COMPANY PROFIT SHARING PLAN, R L MORGAN COMPANY

R L MORGAN COMPANYEIN 38-2567152Plan #001PY 2023

G-6443 W PIERSON RD, SUITE 19 - FLUSHING, MI 48433810-659-2291

Prospect flagsLow assets / participantLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$3.6M

+17.9% from 2022

Total participants

259

+18.8% from 2022

Average account balance

$17,754

+6.2% from 2022

Annual return

15.49%

+34.93 pp from 2022

Benchmarks

See 2,285 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,285 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.70M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

241

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.

71.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$212K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$799

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

+12.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$153

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
SENTINEL PENSION ADVISORS4 years Filed as: SENTINEL BENEFITS GROUP, INC. Service code 15 · EIN 04-3015875	Recordkeeping	$16,823
TAYLOR & MORGAN ASSET MANAGEMENT9+ years Service code 28 · EIN 27-3223635	Investment Management	$12,506
MILLIMAN, INC.2 years Filed as: GRANT, MILLMAN & JOHNSON, P.C. Service code 10 · EIN 38-2555519	Accounting	$9,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T

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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$40K

$186 / participant

Recordkeeping$17K42.4%
Trustee / custodial$1K3.3%
Investment mgmt$13K31.6%
Other / not subdivided$9K22.7%

% of EOY assets

1.111%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GRANT, MILLMAN & JOHNSON, P.C.
Auditor EIN: 382555519
Audit fees: $9,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,754

$54,717-67.6%

$86,209-79.4%

$71,495-75.2%

Participation rate

72.8%

60.1%+12.7pp

69.0%+3.8pp

67.9%+4.8pp

Annual return

15.49%

20.07%-4.6pp

1169.05%-1153.6pp

28.85%-13.4pp

Employer contribution / active EE

$634

$1,267-50.0%

$2,381-73.4%

$2,589-75.5%

Participant deferral / active EE

$807

$3,110-74.1%

$3,986-79.8%

$4,291-81.2%

Admin fee / account holder

$197

$1,922-89.7%

$6,853-97.1%

$1,588-87.6%

Provider

Service type

Compensation

SENTINEL PENSION ADVISORS4 years

Filed as: SENTINEL BENEFITS GROUP, INC.

Service code 15 · EIN 04-3015875

Recordkeeping

$16,823

TAYLOR & MORGAN ASSET MANAGEMENT9+ years

Service code 28 · EIN 27-3223635

Investment Management

$12,506

MILLIMAN, INC.2 years

Filed as: GRANT, MILLMAN & JOHNSON, P.C.

Service code 10 · EIN 38-2555519

Accounting

$9,000

R L MORGAN COMPANY PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

R L MORGAN COMPANY 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