Retirement plan

FARMERS ELEVATOR OF FERGUS FALLS 401(K) TRUST

Name: FARMERS ELEVATOR OF FERGUS FALLS - FARMERS ELEVATOR OF FERGUS FALLS 401(K) TRUST (2022) Form 5500
Creator: FARMERS ELEVATOR OF FERGUS FALLS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FARMERS ELEVATOR OF FERGUS FALLS 401(K) TRUST, FARMERS ELEVATOR OF FERGUS FALLS

FARMERS ELEVATOR OF FERGUS FALLSEIN 41-0247900Plan #002PY 2022

406 JUNIUS AVENUE E, P.O. BOX 671 - FERGUS FALLS, MN 56537218-736-2894fergusfarmers.comLinkedIn11-50 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$656K

-45.6% from 2021

Total participants

-8.3% from 2021

Average account balance

$59,618

-40.6% from 2021

Annual return

-9.56%

-23.43 pp from 2021

Benchmarks

See 6,310 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants<25

Cohort6,310 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$635K

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.

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.

110.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$69K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+8.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$165

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 codes2E2F2G2J2T3D

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.
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

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

$504K

$55992 / participant

Other / not subdivided$504K100.0%

% of EOY assets

76.841%

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

$59,618

$129,959-54.1%

$104,301-42.8%

$134,532-55.7%

Participation rate

100.0%

79.5%+20.5pp

73.3%+26.7pp

81.2%+18.8pp

Annual return

-9.56%

42.04%-51.6pp

24.61%-34.2pp

418.27%-427.8pp

Employer contribution / active EE

$3,750

$4,185-10.4%

$3,373+11.2%

$4,741-20.9%

Participant deferral / active EE

$3,849

$5,589-31.1%

$4,626-16.8%

$6,401-39.9%

Admin fee / account holder

$45,811

$9,325+391.3%

$7,340+524.1%

$11,429+300.8%

FARMERS ELEVATOR OF FERGUS FALLS 401(K) TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FARMERS ELEVATOR OF FERGUS FALLS 401(K) 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