Retirement plan

PROSOCO, INC. 401(K) PROFIT SHARING PLAN & TRUST

Name: PROSOCO, INC. - PROSOCO, INC. 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: PROSOCO, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROSOCO, INC. 401(K) PROFIT SHARING PLAN & TRUST, PROSOCO, INC.

PROSOCO, INC.EIN 48-1123149Plan #002PY 2024

3741 GREENWAY CIRCLE - LAWRENCE, KS 66046785-865-4200prosoco.comLinkedIn51-200 employeesconstruction

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$21.4M

+6.7% from 2023

Total participants

161

+9.5% from 2023

Average account balance

$134,835

-8.0% from 2023

Annual return

10.95%

-5.47 pp from 2023

Benchmarks

See 1,845 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,845 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.44M

Not enough data

1 years with asset history on file

Average account balance

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

$135K

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.

159

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.70M

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

+10.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$718

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 3 by compensation

Provider	Service type	Compensation
CREATIVE PLANNING LLC5 years Filed as: CREATIVE PLANNING Service code 26 · EIN 45-5091060	Advisory (Participants)	$82,692
EPIC RETIREMENT PLAN SERVICES5 years Filed as: TPP RETIREMENT PLAN SPECIALISTS LLC Service code 12 · EIN 20-1301962	Claims processing; Recordkeeping and ...	$22,566
MATRIX TRUST COMPANY4 years Service code 12 · EIN 75-3182674	Trustee (bank, trust company, or simi...	$8,946

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

$114K

$885 / participant

Recordkeeping$9K7.8%
Investment mgmt$83K72.4%
Contract admin$23K19.8%

% of EOY assets

0.533%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RUBIN BROWN LLP
Auditor EIN: 430765316
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$134,835

$78,607+71.5%

$105,624+27.7%

$74,478+81.0%

Participation rate

98.4%

72.8%+25.6pp

75.3%+23.2pp

67.2%+31.2pp

Annual return

10.95%

15.96%-5.0pp

116.20%-105.3pp

1370.56%-1359.6pp

Employer contribution / active EE

$2,935

$2,523+16.3%

$3,168-7.3%

$2,626+11.8%

Participant deferral / active EE

$10,235

$4,325+136.7%

$5,013+104.2%

$4,350+135.3%

Admin fee / account holder

$718

$2,220-67.6%

$10,961-93.4%

$1,946-63.1%

Provider

Service type

Compensation

CREATIVE PLANNING LLC5 years

Filed as: CREATIVE PLANNING

Service code 26 · EIN 45-5091060

Advisory (Participants)

$82,692

EPIC RETIREMENT PLAN SERVICES5 years

Filed as: TPP RETIREMENT PLAN SPECIALISTS LLC

Service code 12 · EIN 20-1301962

Claims processing; Recordkeeping and ...

$22,566

MATRIX TRUST COMPANY4 years

Service code 12 · EIN 75-3182674

Trustee (bank, trust company, or simi...

$8,946

PROSOCO, INC. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROSOCO, INC. 401(K) PROFIT SHARING PLAN & TRUST

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