Retirement plan

RAY FARMERS UNION ELEVATOR 401K AND PSP

Name: RAY FARMERS UNION ELEVATOR - RAY FARMERS UNION ELEVATOR 401K AND PSP (2022) Form 5500
Creator: RAY FARMERS UNION ELEVATOR
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RAY FARMERS UNION ELEVATOR 401K AND PSP, RAY FARMERS UNION ELEVATOR

RAY FARMERS UNION ELEVATOREIN 45-0184143Plan #001PY 2022

11445 HWY 2 - RAY, ND 58849701-568-3343LinkedIn1-10 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.8M

-9.2% from 2021

Total participants

0.0% from 2021

Average account balance

$61,281

-12.3% from 2021

Annual return

-18.80%

-33.08 pp from 2021

Benchmarks

See 6,310 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants<25

Cohort6,310 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.07M

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

127.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$289K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+14.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1145

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 codes2E2J2F2G3D

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.
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

1 tripped

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

$56K

$2665 / participant

Other / not subdivided$56K100.0%

% of EOY assets

3.149%

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

$61,281

$129,959-52.8%

$104,301-41.2%

$134,509-54.4%

Participation rate

100.0%

79.5%+20.5pp

73.3%+26.7pp

81.2%+18.8pp

Annual return

-18.80%

42.04%-60.8pp

24.61%-43.4pp

418.13%-436.9pp

Employer contribution / active EE

$2,704

$4,185-35.4%

$3,373-19.8%

$4,741-43.0%

Participant deferral / active EE

$8,236

$5,589+47.4%

$4,626+78.1%

$6,400+28.7%

Admin fee / account holder

$1,930

$9,325-79.3%

$7,340-73.7%

$11,427-83.1%

RAY FARMERS UNION ELEVATOR 401K AND PSP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RAY FARMERS UNION ELEVATOR 401K AND PSP

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