Retirement plan

BOWMAN AND BROOKE LLP RETIREMENT SAVINGS PLAN

Name: BOWMAN AND BROOKE LLP - BOWMAN AND BROOKE LLP RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: BOWMAN AND BROOKE LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOWMAN AND BROOKE LLP RETIREMENT SAVINGS PLAN, BOWMAN AND BROOKE LLP

BOWMAN AND BROOKE LLPEIN 41-1510639Plan #001PY 2024

150 SOUTH FIFTH STREET, SUITE 3000 - MINNEAPOLIS, MN 55402612-672-3210bowmanandbrooke.comLinkedIn201-500 employeeslaw practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$194.3M

+8.0% from 2023

Total participants

658

+0.8% from 2023

Average account balance

$300,738

+7.1% from 2023

Annual return

12.66%

-5.04 pp from 2023

Benchmarks

See 3,315 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,315 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$194.28M

Not enough data

1 years with asset history on file

Average account balance

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

$301K

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.

646

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.

97.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+12.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$343

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
AMERICAN UNITED LIFE INSURANCE CO9 years Filed as: ONEAMERICA RETIREMENT SERVICES, LLC Service code 15 · EIN 46-5378846	Recordkeeping	$94,765
ALLSTAR FINANCIAL6 years Service code 27 3800 AMERICAN BLVD W SUITE 620 · MINNEAPOLIS, MN 55431	Advisory (Plan)	$78,581
MATRIX TRUST COMPANY4 years Service code 19 · EIN 75-3182674	Securities Custodian	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2R2S2T

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

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

Expense breakdown

Schedule H Part II

Admin total

$221K

$544 / participant

Investment mgmt$79K35.5%
Contract admin$143K64.5%

% of EOY assets

0.114%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$300,738

$106,028+183.6%

$146,958+104.6%

$77,643+287.3%

Participation rate

97.1%

78.4%+18.7pp

82.2%+14.9pp

70.6%+26.5pp

Annual return

12.66%

56.73%-44.1pp

418.34%-405.7pp

31.24%-18.6pp

Employer contribution / active EE

$8,202

$4,063+101.9%

$4,933+66.3%

$2,726+200.9%

Participant deferral / active EE

$9,034

$7,990+13.1%

$8,070+12.0%

$4,647+94.4%

Admin fee / account holder

$343

$337+1.5%

$12,998-97.4%

$430-20.4%

Provider

Service type

Compensation

AMERICAN UNITED LIFE INSURANCE CO9 years

Filed as: ONEAMERICA RETIREMENT SERVICES, LLC

Service code 15 · EIN 46-5378846

Recordkeeping

$94,765

ALLSTAR FINANCIAL6 years

Service code 27

3800 AMERICAN BLVD W SUITE 620 · MINNEAPOLIS, MN 55431

Advisory (Plan)

$78,581

MATRIX TRUST COMPANY4 years

Service code 19 · EIN 75-3182674

Securities Custodian

BOWMAN AND BROOKE LLP RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BOWMAN AND BROOKE LLP RETIREMENT SAVINGS 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