Retirement plan

ABC OF IOWA RETIREMENT SAVINGS PLAN

Name: ABC OF IOWA - ABC OF IOWA RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: ABC OF IOWA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ABC OF IOWA RETIREMENT SAVINGS PLAN, ABC OF IOWA

ABC OF IOWAEIN 42-1029016Plan #333PY 2024

3100 SE ENTERPRISE DRIVE - GRIMES, IA 50111515-985-1171abciowatrust.orgLinkedIn1-10 employeesconstruction

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$34.3M

+14.1% from 2023

Total participants

878

+3.3% from 2023

Average account balance

$52,507

+8.0% from 2023

Annual return

12.60%

-4.16 pp from 2023

Benchmarks

See 1,035 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,035 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$34.29M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

653

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.

68.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.69M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$166

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
3(16) FIDUCIARY SERVICES CORP8+ years Service code 14 · EIN 45-4813650	Plan Administrator	$32,010
TRANSAMERICA RETIREMENT SOLUTIONS8+ years Filed as: TRANSAMERICA FINANCIAL LIFE INS CO. Service code 15 · EIN 36-6071399	Recordkeeping	$30,960
QUALIFIED PLANS, LLC5 years Filed as: QUALIFIED PLAN CONSULTANTS, LLC Service code 15 · EIN 20-0223513	Recordkeeping	$30,164
TEMPLETON & COMPANY LLP3 years Service code 10 · EIN 14-1918990	Accounting	$12,500
CETERA ADVISOR NETWORKS LLC2 years Filed as: CETERA FINANCIAL GROUP Service code 22 · EIN 30-0588666	Insurance Broker	$10,736
MESIROW FINANCIAL INVESTMENT MANAGE6 years Filed as: MESIROW FINANCIAL Service code 27 · EIN 36-3194849	Advisory (Plan)	$6,454

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T2U3D3H

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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$109K

$152 / participant

Recordkeeping$63K57.7%
Contract admin$32K29.5%
Other / not subdivided$14K12.8%

% of EOY assets

0.317%

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: TEMPLETON & COMPANY
Auditor EIN: 141918990
Audit fees: $12,500
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,507

$65,908-20.3%

$81,812-35.8%

$77,643-32.4%

Participation rate

68.6%

65.8%+2.8pp

72.3%-3.8pp

70.6%-2.0pp

Annual return

12.60%

26.64%-14.0pp

773.79%-761.2pp

31.24%-18.6pp

Employer contribution / active EE

$1,678

$2,370-29.2%

$2,912-42.4%

$2,726-38.5%

Participant deferral / active EE

$3,474

$3,505-0.9%

$4,319-19.6%

$4,647-25.3%

Admin fee / account holder

$166

$526-68.4%

$7,386-97.7%

$430-61.4%

Provider

Service type

Compensation

3(16) FIDUCIARY SERVICES CORP8+ years

Service code 14 · EIN 45-4813650

Plan Administrator

$32,010

TRANSAMERICA RETIREMENT SOLUTIONS8+ years

Filed as: TRANSAMERICA FINANCIAL LIFE INS CO.

Service code 15 · EIN 36-6071399

Recordkeeping

$30,960

QUALIFIED PLANS, LLC5 years

Filed as: QUALIFIED PLAN CONSULTANTS, LLC

Service code 15 · EIN 20-0223513

Recordkeeping

$30,164

TEMPLETON & COMPANY LLP3 years

Service code 10 · EIN 14-1918990

Accounting

$12,500

CETERA ADVISOR NETWORKS LLC2 years

Filed as: CETERA FINANCIAL GROUP

Service code 22 · EIN 30-0588666

Insurance Broker

$10,736

MESIROW FINANCIAL INVESTMENT MANAGE6 years

Filed as: MESIROW FINANCIAL

Service code 27 · EIN 36-3194849

Advisory (Plan)

$6,454

ABC OF IOWA RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ABC OF IOWA 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