Retirement plan

CANAL HR, INC. QUALIFIED RETIREMENT PLAN

Name: CANAL HR, INC. - CANAL HR, INC. QUALIFIED RETIREMENT PLAN (2015) Form 5500
Creator: CANAL HR, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CANAL HR, INC. QUALIFIED RETIREMENT PLAN, CANAL HR, INC.

CANAL HR, INC.EIN 46-1197378Plan #333PY 2015

POST OFFICE BOX 8798 - METAIRIE, LA 700118798504-662-1791canalhr.comLinkedIn11-50 employeeshuman resources

Prospect flagsLow returnsLow participationLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$18.3M

No prior year

Total participants

1,055

No prior year

Average account balance

$42,611

No prior year

Annual return

-4.15%

No prior year

Benchmarks

See 2,331 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort2,331 peers

Snapshot2015

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Analytics

Total assets (EOY)

Plan-year ending balance

$45.90M

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

437

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.

41.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+15.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$46

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
ARMADA ADVISORS, INC.1+ years Filed as: ARMADA ADVISORS Service code 26 · EIN 26-4640626 610 NORTH SPRING STREET · PENSACOLA, FL 32501	Advisory (Participants)	$66,346
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-0140105 2300 S COLUMBIA ROAD · GRAND FORKS, ND 582066001	Recordkeeping	$32,340
SALTMARSH, CLEVELAND & GUND1+ years Filed as: SALTMARSH CLEVELAND & GUND Service code 10 · EIN 59-2922167 900 NORTH 12TH AVENUE · PENSACOLA, FL 32501	Accounting	$10,750
LYNETTE LAVIE BURAS & ASSOC., LLC1+ years Filed as: LYNETTE LAVIE BURAS & ASSOCIATES, L Service code 13 · EIN 58-2678386 POST OFFICE BOX 19223 · NEW ORLEANS, LA 701790223	Contract Administrator	$7,350

Plan features & details

Pension benefit codes2E2F2G2J2K3D3F

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$117K

$119 / participant

Investment mgmt$66K56.8%
Contract admin$19K16.6%
Other / not subdivided$31K26.6%

% of EOY assets

0.639%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: SALTMARSH, CLEAVELAND & GUND
Auditor EIN: 592922169
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,611

$88,324-51.8%

$115,037-63.0%

$55,191-22.8%

Participation rate

36.2%

72.5%-36.3pp

81.4%-45.2pp

69.2%-33.0pp

Annual return

-4.15%

6.30%-10.5pp

26.14%-30.3pp

10.78%-14.9pp

Employer contribution / active EE

$530

$2,805-81.1%

$4,608-88.5%

$1,899-72.1%

Participant deferral / active EE

$1,260

$5,042-75.0%

$6,026-79.1%

$3,046-58.6%

Admin fee / account holder

$272

$105+158.3%

$8,175-96.7%

$91+199.9%

Provider

Service type

Compensation

ARMADA ADVISORS, INC.1+ years

Filed as: ARMADA ADVISORS

Service code 26 · EIN 26-4640626

610 NORTH SPRING STREET · PENSACOLA, FL 32501

Advisory (Participants)

$66,346

ALERUS FINANCIAL, N.A.1+ years

Service code 15 · EIN 45-0140105

2300 S COLUMBIA ROAD · GRAND FORKS, ND 582066001

Recordkeeping

$32,340

SALTMARSH, CLEVELAND & GUND1+ years

Filed as: SALTMARSH CLEVELAND & GUND

Service code 10 · EIN 59-2922167

900 NORTH 12TH AVENUE · PENSACOLA, FL 32501

Accounting

$10,750

LYNETTE LAVIE BURAS & ASSOC., LLC1+ years

Filed as: LYNETTE LAVIE BURAS & ASSOCIATES, L

Service code 13 · EIN 58-2678386

POST OFFICE BOX 19223 · NEW ORLEANS, LA 701790223

Contract Administrator

$7,350

CANAL HR, INC. QUALIFIED RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CANAL HR, INC. QUALIFIED RETIREMENT 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