Retirement plan

EGAN COMPANY 401(K) AND PROFIT SHARING PLAN

Name: EGAN COMPANY - EGAN COMPANY 401(K) AND PROFIT SHARING PLAN (2017) Form 5500
Creator: EGAN COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EGAN COMPANY 401(K) AND PROFIT SHARING PLAN, EGAN COMPANY

EGAN COMPANYEIN 41-1570195Plan #002PY 2017

7625 BOONE AVENUE NORTH - BROOKLYN PARK, MN 55428763-591-5594eganco.comLinkedIn1001-5000 employeesconstruction

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed December 7, 1992 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$55.1M

+21.9% from 2016

Total participants

359

+11.5% from 2016

Average account balance

$153,358

+8.7% from 2016

Annual return

19.97%

+11.30 pp from 2016

Benchmarks

See 1,124 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,124 peers

Snapshot2017

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Analytics

Total assets (EOY)

Plan-year ending balance

$90.00M

Not enough data

1 years with asset history on file

Average account balance

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

$231K

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.

389

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.

96.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.22M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$30K

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

+19.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$244

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 4 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	$76,790
NFP RETIREMENT INC3+ years Filed as: NFP CORPORATE SERVICES MN Service code 27 9655 SCHMIDT LAKE ROAD · PLYMOUTH, MN 55442	Advisory (Plan)	$51,651
BOYUM & BARENSCHEER PLLP3+ years Filed as: BOYUM & BARENSCHEER, PLLP Service code 10 · EIN 41-6192096	Accounting	$7,000
BMO HARRIS BANK NA3+ years Filed as: BMO HARRIS BANK, NA Service code 19 · EIN 36-2085229	Securities Custodian	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$135K

$484 / participant

Investment mgmt$52K38.1%
Other / not subdivided$84K61.9%

% of EOY assets

0.246%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BOYUM & BARENSCHEER, PLLP
Auditor EIN: 416192096
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$153,358

$60,545+153.3%

$92,233+66.3%

$69,631+120.2%

Participation rate

100.0%

72.2%+27.8pp

76.5%+23.5pp

70.7%+29.3pp

Annual return

19.97%

19.71%+0.3pp

176.28%-156.3pp

27571.02%-27551.1pp

Employer contribution / active EE

$8,571

$2,633+225.5%

$3,679+132.9%

$2,032+321.8%

Participant deferral / active EE

$7,544

$2,828+166.8%

$3,897+93.6%

$3,224+134.0%

Admin fee / account holder

$377

$145+160.6%

$5,194-92.7%

$110+241.6%

Provider

Service type

Compensation

AMERICAN UNITED LIFE INSURANCE CO3+ years

Filed as: ONEAMERICA RETIREMENT SERVICES, LLC

Service code 15 · EIN 46-5378846

Recordkeeping

$76,790

NFP RETIREMENT INC3+ years

Filed as: NFP CORPORATE SERVICES MN

Service code 27

9655 SCHMIDT LAKE ROAD · PLYMOUTH, MN 55442

Advisory (Plan)

$51,651

BOYUM & BARENSCHEER PLLP3+ years

Filed as: BOYUM & BARENSCHEER, PLLP

Service code 10 · EIN 41-6192096

Accounting

$7,000

BMO HARRIS BANK NA3+ years

Filed as: BMO HARRIS BANK, NA

Service code 19 · EIN 36-2085229

Securities Custodian

EGAN COMPANY 401(K) AND PROFIT SHARING PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EGAN COMPANY 401(K) AND PROFIT SHARING PLAN

Top hat statement on fileNQDC

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