Retirement plan

CANAL HR, INC. QUALIFIED RETIREMENT PLAN

Name: CANAL HR, INC. - CANAL HR, INC. QUALIFIED RETIREMENT PLAN (2017) 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 2017

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

Prospect flagsHigh feesLow participationLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$27.3M

+26.9% from 2016

Total participants

819

-37.6% from 2016

Average account balance

$59,446

+17.5% from 2016

Annual return

22.30%

+3.36 pp from 2016

Benchmarks

See 2,615 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort2,615 peers

Snapshot2017

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

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

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-0140105 2300 S COLUMBIA ROAD · GRAND FORKS, ND 582066001	Recordkeeping	$37,364
LYNETTE LAVIE BURAS & ASSOC., LLC3+ years Filed as: LYNETTE LAVIE BURAS & ASSOCIATES, L Service code 13 · EIN 58-2678386 POST OFFICE BOX 19223 · NEW ORLEANS, LA 701790223	Contract Administrator	$15,045
ARMADA ADVISORS, INC.3+ years Filed as: ARMADA ADVISORS Service code 26 · EIN 26-4640626 610 NORTH SPRING STREET · PENSACOLA, FL 32501	Advisory (Participants)	$15,031
SALTMARSH, CLEVELAND & GUND3+ years Filed as: SALTMARSH CLEVELAND & GUND Service code 10 · EIN 59-2922167 900 NORTH 12TH AVENUE · PENSACOLA, FL 32501	Accounting	$11,000
CONTINENTAL BENEFITS GROUP, INC.1 year Filed as: CONTINENTAL BENEFITS GROUP Service code 16 · EIN 01-0724493	Consulting	$1,250

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.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$140K

$203 / participant

Other / not subdivided$140K100.0%

% of EOY assets

0.512%

all-in expense ratio

Categories reported

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$59,446

$155,795-61.8%

$136,298-56.4%

$69,631-14.6%

Participation rate

47.6%

75.2%-27.7pp

81.9%-34.3pp

70.7%-23.1pp

Annual return

22.30%

232464.33%-232442.0pp

5156.27%-5134.0pp

27571.02%-27548.7pp

Employer contribution / active EE

$1,261

$2,991-57.8%

$4,696-73.1%

$2,032-37.9%

Participant deferral / active EE

$2,096

$5,394-61.1%

$6,247-66.5%

$3,224-35.0%

Admin fee / account holder

$304

$128+137.4%

$9,244-96.7%

$110+175.7%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.3+ years

Service code 15 · EIN 45-0140105

2300 S COLUMBIA ROAD · GRAND FORKS, ND 582066001

Recordkeeping

$37,364

LYNETTE LAVIE BURAS & ASSOC., LLC3+ years

Filed as: LYNETTE LAVIE BURAS & ASSOCIATES, L

Service code 13 · EIN 58-2678386

POST OFFICE BOX 19223 · NEW ORLEANS, LA 701790223

Contract Administrator

$15,045

ARMADA ADVISORS, INC.3+ years

Filed as: ARMADA ADVISORS

Service code 26 · EIN 26-4640626

610 NORTH SPRING STREET · PENSACOLA, FL 32501

Advisory (Participants)

$15,031

SALTMARSH, CLEVELAND & GUND3+ years

Filed as: SALTMARSH CLEVELAND & GUND

Service code 10 · EIN 59-2922167

900 NORTH 12TH AVENUE · PENSACOLA, FL 32501

Accounting

$11,000

CONTINENTAL BENEFITS GROUP, INC.1 year

Filed as: CONTINENTAL BENEFITS GROUP

Service code 16 · EIN 01-0724493

Consulting

$1,250

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