Retirement plan

PALMER GROUP 401(K) PLAN

Name: PALMER COMPANIES, INC. - PALMER GROUP 401(K) PLAN (2018) Form 5500
Creator: PALMER COMPANIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PALMER GROUP 401(K) PLAN, PALMER COMPANIES, INC.

PALMER COMPANIES, INC.EIN 42-1480932Plan #001PY 2018

3737 WOODLAND AVENUE, SUITE 200 - WEST DES MOINES, IA 50266515-224-4480

Other plans on this EIN

1 filing

#002Retirement-$6.7M assets

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$5M

-21.2% from 2017

Total participants

161

+3.2% from 2017

Average account balance

$53,723

-18.7% from 2017

Annual return

-4.44%

-25.45 pp from 2017

Benchmarks

See 5,340 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,340 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.25M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

148

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.

63.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$809K

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

+17.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$383

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
COMMONWEALTH FINANCIAL NETWORK1 year Filed as: COMMONWEALTH EQUITY SERVICES LLC Service code 27 29 SAWYER ROAD · WALTHAM, MA 024533483	Advisory (Plan)	$21,527
M. BROOKS1 year Filed as: BROOKS LODDEN PC Service code 10 1441 29TH STREET STE 305 · WEST DES MOINES, IA 502661357	Accounting	$8,150
AMERICAN FUNDS1 year Filed as: CAPITAL RESEARCH & MANAGEMENT COMPA Service code 64 333 SOUTH HOPE STREET · LOS ANGELES, CA 90071	Recordkeeping Fees	$6,926
PACO INC2 years Filed as: PACO, INC. Service code 13 1200 VALLEY WEST DRIVE STE 507 · WEST DES MOINES, IA 502661906	Contract Administrator	$6,038

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$37K

$251 / participant

Investment mgmt$22K58.7%
Contract admin$7K19.1%
Other / not subdivided$8K22.2%

% of EOY assets

0.726%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BROOKS LODDEN, P.C.
Auditor EIN: 421229486
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,723

$73,102-26.5%

$123,552-56.5%

$56,287-4.6%

Participation rate

54.1%

74.3%-20.2pp

82.3%-28.2pp

69.9%-15.7pp

Annual return

-4.44%

3.01%-7.4pp

119.20%-123.6pp

-9.96%+5.5pp

Employer contribution / active EE

$2,977-100.0%

$4,628-100.0%

$2,111-100.0%

Participant deferral / active EE

$3,552

$5,423-34.5%

$6,426-44.7%

$3,350+6.0%

Admin fee / account holder

$390

$554-29.5%

$9,285-95.8%

$521-25.1%

Provider

Service type

Compensation

COMMONWEALTH FINANCIAL NETWORK1 year

Filed as: COMMONWEALTH EQUITY SERVICES LLC

Service code 27

29 SAWYER ROAD · WALTHAM, MA 024533483

Advisory (Plan)

$21,527

M. BROOKS1 year

Filed as: BROOKS LODDEN PC

Service code 10

1441 29TH STREET STE 305 · WEST DES MOINES, IA 502661357

Accounting

$8,150

AMERICAN FUNDS1 year

Filed as: CAPITAL RESEARCH & MANAGEMENT COMPA

Service code 64

333 SOUTH HOPE STREET · LOS ANGELES, CA 90071

Recordkeeping Fees

$6,926

PACO INC2 years

Filed as: PACO, INC.

Service code 13

1200 VALLEY WEST DRIVE STE 507 · WEST DES MOINES, IA 502661906

Contract Administrator

$6,038

PALMER GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PALMER GROUP 401(K) 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