Retirement plan

NORTHLAND DEALERS INVESTMENT GROUP, INC. 401(K) RETIREMENT PLAN

Name: NORTHLAND DEALERS INVESTMENT GROUP, INC. - NORTHLAND DEALERS INVESTMENT GROUP, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: NORTHLAND DEALERS INVESTMENT GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHLAND DEALERS INVESTMENT GROUP, INC. 401(K) RETIREMENT PLAN, NORTHLAND DEALERS INVESTMENT GROUP, INC.

NORTHLAND DEALERS INVESTMENT GROUP, INC.EIN 41-1978633Plan #001PY 2022

P.O. BOX 161830 - DULUTH, MN 558161830218-625-2470LinkedIn501-1000 employeesretail

Prospect flagsLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$19.6M

-13.7% from 2021

Total participants

789

+6.2% from 2021

Average account balance

$32,048

-12.1% from 2021

Annual return

-17.37%

-32.93 pp from 2021

Benchmarks

See 1,277 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,277 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.89M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

725

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.

88.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.52M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.07%

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

1 years with F_SCH_H allocation on file

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$91,703
AMERICAN FUNDS5 years Filed as: ADVANCED CAPITAL GROUP Service code 27 · EIN 41-1921960	Advisory (Plan)	$31,282
WELLS FARGO BANK, N.A.2 years Filed as: WELLS FARGO CLEARING SERVICES LLC Service code 49 · EIN 34-1542819	Other Services	$13,722
USI CONSULTING GROUP1 year Service code 27 · EIN 06-1053228	Advisory (Plan)	$12,820
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO ADVISORS INS AGENCY LLC Service code 49 · EIN 54-0910269	Other Services	$7,309
WOODWARD & ASSOCIATES, INC.8+ years Service code 10 · EIN 37-1378349	Accounting	$4,291

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T2U3B3H

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

OpportunityLow employer contribution
Employer contribution per participant 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$137K

$199 / participant

Investment mgmt$48K35.2%
Contract admin$89K64.8%

% of EOY assets

0.700%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WOODWARD & ASSOCIATES, INC
Auditor EIN: 371378349
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,048

$42,367-24.4%

$79,583-59.7%

$64,824-50.6%

Participation rate

74.6%

64.7%+9.8pp

69.5%+5.1pp

71.5%+3.1pp

Annual return

-17.37%

-12.24%-5.1pp

0.16%-17.5pp

32.84%-50.2pp

Employer contribution / active EE

$231

$1,181-80.5%

$2,414-90.4%

$2,507-90.8%

Participant deferral / active EE

$3,136

$3,168-1.0%

$3,986-21.3%

$4,311-27.2%

Admin fee / account holder

$224

$160+40.6%

$6,835-96.7%

$188+19.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$91,703

AMERICAN FUNDS5 years

Filed as: ADVANCED CAPITAL GROUP

Service code 27 · EIN 41-1921960

Advisory (Plan)

$31,282

WELLS FARGO BANK, N.A.2 years

Filed as: WELLS FARGO CLEARING SERVICES LLC

Service code 49 · EIN 34-1542819

Other Services

$13,722

USI CONSULTING GROUP1 year

Service code 27 · EIN 06-1053228

Advisory (Plan)

$12,820

WELLS FARGO BANK, N.A.1 year

Filed as: WELLS FARGO ADVISORS INS AGENCY LLC

Service code 49 · EIN 54-0910269

Other Services

$7,309

WOODWARD & ASSOCIATES, INC.8+ years

Service code 10 · EIN 37-1378349

Accounting

$4,291

NORTHLAND DEALERS INVESTMENT GROUP, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHLAND DEALERS INVESTMENT GROUP, INC. 401(K) RETIREMENT 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