Retirement plan

GISLASON & HUNTER LLP 401(K) PROFIT SHARING PLAN

Name: GISLASON & HUNTER LLP - GISLASON & HUNTER LLP 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: GISLASON & HUNTER LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GISLASON & HUNTER LLP 401(K) PROFIT SHARING PLAN, GISLASON & HUNTER LLP

GISLASON & HUNTER LLPEIN 41-0832673Plan #004PY 2020

2700 SOUTH BROADWAY - NEW ULM, MN 56073507-385-6143gislason.comLinkedIn51-200 employeeslaw practice

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$17.7M

-28.0% from 2019

Total participants

111

-4.3% from 2019

Average account balance

$170,358

-23.2% from 2019

Annual return

7.52%

-12.68 pp from 2019

Benchmarks

See 26,423 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort26,423 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.72M

Not enough data

1 years with asset history on file

Average account balance

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

$195K

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.

206.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$716K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+13.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$26053

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
AMERICAN UNITED LIFE INSURANCE CO3 years Filed as: ONEAMERICA RETIREMENT SERVICES, LLC Service code 15 · EIN 46-5378846	Recordkeeping	$32,673
AMERICAN FUNDS3 years Filed as: ADVANCED CAPITAL GROUP Service code 27 50 SOUTH SIXTH, SUITE 975 · MINNEAPOLIS, MN 55402	Advisory (Plan)	$29,282
BMO HARRIS BANK NA3 years Filed as: BMO HARRIS BANK, N.A. Service code 19 · EIN 36-2085229	Securities Custodian	$0

Plan features & details

Pension benefit codes2E2F2G2J2R2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return 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

$62K

$1147 / participant

Investment mgmt$29K47.3%
Other / not subdivided$33K52.7%

% of EOY assets

0.350%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EIDE BAILLY LLP
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$170,358

$98,760+72.5%

$149,715+13.8%

$79,858+113.3%

Participation rate

87.0%

75.8%+11.3pp

82.5%+4.6pp

69.6%+17.4pp

Annual return

7.52%

27.43%-19.9pp

276.66%-269.1pp

31.72%-24.2pp

Employer contribution / active EE

$3,217-100.0%

$4,645-100.0%

$2,471-100.0%

Participant deferral / active EE

$10,722

$5,681+88.7%

$6,842+56.7%

$3,740+186.7%

Admin fee / account holder

$596

$6,053-90.2%

$9,310-93.6%

$5,306-88.8%

Provider

Service type

Compensation

AMERICAN UNITED LIFE INSURANCE CO3 years

Filed as: ONEAMERICA RETIREMENT SERVICES, LLC

Service code 15 · EIN 46-5378846

Recordkeeping

$32,673

AMERICAN FUNDS3 years

Filed as: ADVANCED CAPITAL GROUP

Service code 27

50 SOUTH SIXTH, SUITE 975 · MINNEAPOLIS, MN 55402

Advisory (Plan)

$29,282

BMO HARRIS BANK NA3 years

Filed as: BMO HARRIS BANK, N.A.

Service code 19 · EIN 36-2085229

Securities Custodian

GISLASON & HUNTER LLP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GISLASON & HUNTER 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