Retirement plan

BEST & FLANAGAN LLP 401(K) PROFIT SHARING PLAN

Name: BEST & FLANAGAN LLP - BEST & FLANAGAN LLP 401(K) PROFIT SHARING PLAN (2016) Form 5500
Creator: BEST & FLANAGAN LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BEST & FLANAGAN LLP 401(K) PROFIT SHARING PLAN, BEST & FLANAGAN LLP

BEST & FLANAGAN LLPEIN 41-0150277Plan #003PY 2016

60 S 6TH ST STE 2700 - MINNEAPOLIS, MN 55402612-339-7121bestlaw.comLinkedIn51-200 employeeslaw practice

Other plans on this EIN

1 filing

#002Retirement-$12.8M assets

Prospect flagsHigh assets / participant

How to read this page

Total assets (EOY)

$34.3M

+5.0% from 2015

Total participants

113

-9.6% from 2015

Average account balance

$303,941

+16.1% from 2015

Annual return

7.50%

+8.21 pp from 2015

Benchmarks

See 24,581 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort24,581 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$68.70M

Not enough data

1 years with asset history on file

Average account balance

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

$587K

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.

117

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.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$27K

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

+14.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$954

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

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 codes2F2G2T3D2E2J2R

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.
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

1 tripped

InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$1K

$19 / participant

Contract admin$1K100.0%

% of EOY assets

0.004%

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: BOULAY
Auditor EIN: 410887288
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$303,941

$76,551+297.0%

$123,894+145.3%

$62,881+383.4%

Participation rate

100.0%

73.0%+27.0pp

81.4%+18.6pp

69.3%+30.7pp

Annual return

7.50%

18.68%-11.2pp

47.52%-40.0pp

20.14%-12.6pp

Employer contribution / active EE

$8,156

$2,882+183.0%

$4,617+76.7%

$2,281+257.6%

Participant deferral / active EE

$9,638

$4,840+99.1%

$5,984+61.1%

$3,203+200.9%

Admin fee / account holder

$11

$4,826-99.8%

$8,357-99.9%

$4,296-99.7%

BEST & FLANAGAN LLP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BEST & FLANAGAN LLP 401(K) 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