Retirement plan

WOODS, FULLER, SHULTZ & SMITH, PC 401K PROFIT SHARING PLAN

Name: WOODS, FULLER, SHULTZ & SMITH, PC - WOODS, FULLER, SHULTZ & SMITH, PC 401K PROFIT SHARING PLAN (2019) Form 5500
Creator: WOODS, FULLER, SHULTZ & SMITH, PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WOODS, FULLER, SHULTZ & SMITH, PC 401K PROFIT SHARING PLAN, WOODS, FULLER, SHULTZ & SMITH, PC

WOODS, FULLER, SHULTZ & SMITH, PCEIN 46-0362286Plan #001PY 2019

300 S. PHILLIPS AVE. - SIOUX FALLS, SD 57104605-336-3890wfss.comLinkedIn51-200 employeeslaw practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$40.1M

+16.8% from 2018

Total participants

+3.6% from 2018

Average account balance

$471,339

+14.0% from 2018

Annual return

18.61%

+16.98 pp from 2018

Benchmarks

See 25,916 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort25,916 peers

Snapshot2019

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Analytics

Total assets (EOY)

Plan-year ending balance

$66.59M

Not enough data

1 years with asset history on file

Average account balance

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

$724K

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.

126.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$32K

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

+13.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$34688

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY2 years Filed as: MORGAN STANLEY GLOBAL BANKING OP. Service code 26 1300 THAMES STREET WHARF · BALITMORE, MD 21231	Advisory (Participants)	$55,210
NEWPORT GROUP, INC.2 years Service code 13 · EIN 27-2037969	Contract Administrator	$9,881

Plan features & details

Pension benefit codes2A2E2F2G2J2R2T3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

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

$2.3M

$34237 / participant

Other / not subdivided$2M100.0%

% of EOY assets

5.640%

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: -

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$471,339

$89,355+427.5%

$141,162+233.9%

$72,985+545.8%

Participation rate

98.5%

75.1%+23.4pp

82.5%+16.0pp

69.5%+29.0pp

Annual return

18.61%

111.85%-93.2pp

71.39%-52.8pp

81.00%-62.4pp

Employer contribution / active EE

$19,670

$3,114+531.6%

$4,735+315.4%

$2,440+706.2%

Participant deferral / active EE

$3,919

$5,418-27.7%

$6,709-41.6%

$3,607+8.6%

Admin fee / account holder

$26,584

$5,958+346.2%

$10,261+159.1%

$5,124+418.8%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY2 years

Filed as: MORGAN STANLEY GLOBAL BANKING OP.

Service code 26

1300 THAMES STREET WHARF · BALITMORE, MD 21231

Advisory (Participants)

$55,210

NEWPORT GROUP, INC.2 years

Service code 13 · EIN 27-2037969

Contract Administrator

$9,881

WOODS, FULLER, SHULTZ & SMITH, PC 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WOODS, FULLER, SHULTZ & SMITH, PC 401K PROFIT SHARING 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