Retirement plan

SCHMIDT FAMILY FARMS, INC. PROFIT SHARING PLAN AND TRUST

Name: SCHMIDT FAMILY FARMS, INC. - SCHMIDT FAMILY FARMS, INC. PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: SCHMIDT FAMILY FARMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHMIDT FAMILY FARMS, INC. PROFIT SHARING PLAN AND TRUST, SCHMIDT FAMILY FARMS, INC.

SCHMIDT FAMILY FARMS, INC.EIN 42-1105643Plan #001PY 2023

1570 NAVY AVE. - GARNER, IA 50438641-587-2657LinkedIn1-10 employeesfarming

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.6M

+10.2% from 2022

Total participants

0.0% from 2022

Average account balance

$217,453

-8.2% from 2022

Annual return

9.83%

+20.64 pp from 2022

Benchmarks

See 6,332 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants<25

Cohort6,332 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.25M

Not enough data

1 years with asset history on file

Average account balance

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

$271K

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.

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.

85.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4061

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$46K

$3819 / participant

Other / not subdivided$46K100.0%

% of EOY assets

1.756%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$217,453

$141,001+54.2%

$112,228+93.8%

$139,487+55.9%

Participation rate

100.0%

79.2%+20.8pp

72.4%+27.6pp

80.3%+19.7pp

Annual return

9.83%

32.75%-22.9pp

30.23%-20.4pp

373.84%-364.0pp

Employer contribution / active EE

$2,917

$4,285-31.9%

$3,432-15.0%

$4,755-38.7%

Participant deferral / active EE

$5,877-100.0%

$4,800-100.0%

$6,713-100.0%

Admin fee / account holder

$3,819

$9,959-61.7%

$7,752-50.7%

$11,407-66.5%

SCHMIDT FAMILY FARMS, INC. PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHMIDT FAMILY FARMS, INC. PROFIT SHARING PLAN AND TRUST

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