Retirement plan

BURKE, MYERS & ASSOCIATES 401(K) PLAN

Name: BURKE MYERS & ASSOCIATES LTD - BURKE, MYERS & ASSOCIATES 401(K) PLAN (2020) Form 5500
Creator: BURKE MYERS & ASSOCIATES LTD
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BURKE, MYERS & ASSOCIATES 401(K) PLAN, BURKE MYERS & ASSOCIATES LTD

BURKE MYERS & ASSOCIATES LTDEIN 45-0446817Plan #001PY 2020

3332 4TH AVENUE S, SUITE 2A - FARGO, ND 58103701-232-8400LinkedIn1-10 employeesaccounting

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$2.1M

-1.1% from 2019

Total participants

-12.5% from 2019

Average account balance

$299,912

+13.0% from 2019

Annual return

-5.27%

-13.17 pp from 2019

Benchmarks

See 120,779 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,779 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.33M

Not enough data

1 years with asset history on file

Average account balance

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

$541K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$209K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$35K

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

+9.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2116

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 codes2E2F2G2J2T3D

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.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$36K

$7262 / participant

Other / not subdivided$36K100.0%

% of EOY assets

1.729%

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

$299,912

$165,361+81.4%

$149,715+100.3%

$158,950+88.7%

Participation rate

100.0%

84.6%+15.4pp

82.5%+17.5pp

82.0%+18.0pp

Annual return

-5.27%

348.24%-353.5pp

276.66%-281.9pp

302.91%-308.2pp

Employer contribution / active EE

$11,625

$5,103+127.8%

$4,645+150.3%

$4,762+144.1%

Participant deferral / active EE

$10,849

$7,182+51.1%

$6,842+58.6%

$5,983+81.3%

Admin fee / account holder

$5,187

$10,808-52.0%

$9,310-44.3%

$11,248-53.9%

BURKE, MYERS & ASSOCIATES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BURKE, MYERS & ASSOCIATES 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