Retirement plan

EDWARDS OIL EMPLOYEES PROFIT SHARING & 401(K) PLAN

Name: EDWARDS OIL, INC. - EDWARDS OIL EMPLOYEES PROFIT SHARING & 401(K) PLAN (2023) Form 5500
Creator: EDWARDS OIL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EDWARDS OIL EMPLOYEES PROFIT SHARING & 401(K) PLAN, EDWARDS OIL, INC.

EDWARDS OIL, INC.EIN 41-1329697Plan #001PY 2023

EDWARDS OIL, INC., 820 HOOVER ROAD - VIRGINIA, MN 55792218-741-9649LinkedIn51-200 employees

Prospect flagsLow assets / participantLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$4.9M

+20.6% from 2022

Total participants

187

+57.1% from 2022

Average account balance

$28,736

-22.9% from 2022

Annual return

14.59%

+30.28 pp from 2022

Benchmarks

See 2,343 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,343 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.71M

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

180

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.

93.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$453K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$250

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
NEWPORT GROUP, INC.8 years Service code 13 · EIN 27-2037969	Contract Administrator	$18,395
WALKER, GIROUX, & HAHNE LLC1 year Filed as: WALKER, GIROUX & HAHNE LLC Service code 10 225 1ST STREET NORTH · VIRGINIA, MN 55792	Accounting	$9,750
MERRILL LYNCH PIERCE FENNER & SMITH3 years Filed as: MERRILL LYNCH Service code 26 30 ESAT 7TH STREET · ST. PAUL, MN 55101	Advisory (Participants)	$7,196

Plan features & details

Pension benefit codes2S2E3D2G2J2K2F2T

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.
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.

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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$37K

$243 / participant

Investment mgmt$7K19.6%
Other trustee fees$1K3.7%
Contract admin$18K50.1%
Other / not subdivided$10K26.6%

% of EOY assets

0.742%

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: WALKER GIROUX AND HAHNE
Auditor EIN: 463893925
Audit fees: $9,750
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,736

$83,090-65.4%

$130,062-77.9%

$71,529-59.8%

Participation rate

90.1%

74.1%+15.9pp

78.5%+11.6pp

67.9%+22.1pp

Annual return

14.59%

20.61%-6.0pp

-137.37%+152.0pp

28.97%-14.4pp

Employer contribution / active EE

$558

$2,624-78.7%

$4,322-87.1%

$2,590-78.4%

Participant deferral / active EE

$2,124

$4,436-52.1%

$5,821-63.5%

$4,291-50.5%

Admin fee / account holder

$213

$1,727-87.6%

$10,601-98.0%

$1,588-86.6%

Provider

Service type

Compensation

NEWPORT GROUP, INC.8 years

Service code 13 · EIN 27-2037969

Contract Administrator

$18,395

WALKER, GIROUX, & HAHNE LLC1 year

Filed as: WALKER, GIROUX & HAHNE LLC

Service code 10

225 1ST STREET NORTH · VIRGINIA, MN 55792

Accounting

$9,750

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Filed as: MERRILL LYNCH

Service code 26

30 ESAT 7TH STREET · ST. PAUL, MN 55101

Advisory (Participants)

$7,196

EDWARDS OIL EMPLOYEES PROFIT SHARING & 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EDWARDS OIL EMPLOYEES PROFIT SHARING & 401(K) 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