Retirement plan

PORTER AUTOMOTIVE GROUP 401(K) PLAN

Name: WILLIAM H. PORTER, INC. - PORTER AUTOMOTIVE GROUP 401(K) PLAN (2023) Form 5500
Creator: WILLIAM H. PORTER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PORTER AUTOMOTIVE GROUP 401(K) PLAN, WILLIAM H. PORTER, INC.

WILLIAM H. PORTER, INC.EIN 51-0069458Plan #002PY 2023

414 EAST CLEVELAND AVENUE - NEWARK, DE 19711302-453-6800

Prospect flagsHigh feesLow participationCorrective distributions

How to read this page

Total assets (EOY)

$13.3M

-0.5% from 2022

Total participants

175

-2.8% from 2022

Average account balance

$115,922

+15.0% from 2022

Annual return

19.41%

+38.50 pp from 2022

Benchmarks

See 2,288 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,288 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$16.64M

Not enough data

1 years with asset history on file

Average account balance

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

$151K

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.

110

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.

55.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$535K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+14.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$622

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
JOHN HANCOCK LIFE INSURANCE COMPANY4 years Service code 15 · EIN 01-0233346	Recordkeeping	$4,241
WILSHIRE ASSOCIATES INCORPORATED4 years Filed as: WILSHIRE ASSOCIATES, INC. (USA) Service code 26 · EIN 95-2755361	Advisory (Participants)	$2,551
JOHN HANCOCK LIFE INSURANCE COMPANY3 years Filed as: JOHN HANCOCK LIFE INSURANCE CO. U.S Service code 15 · EIN 01-0233346	Recordkeeping	$0
WILSHIRE ASSOCIATES INCORPORATED3 years Filed as: WILSHIRE ASSOCIATES, INC. U.S.A. Service code 26 · EIN 95-2755361 1299 OCEAN AVENUE · SANTA MONICA, CA 90401	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3B3D3H

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.
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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$56K

$395 / participant

Investment mgmt$3K4.6%
Contract admin$51K90.8%
Other / not subdivided$3K4.6%

% of EOY assets

0.417%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BUMPERS & CO
Auditor EIN: 510267254
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$115,922

$54,701+111.9%

$86,188+34.5%

$71,457+62.2%

Participation rate

57.4%

60.1%-2.7pp

69.0%-11.5pp

67.9%-10.5pp

Annual return

19.41%

20.06%-0.7pp

1168.45%-1149.0pp

28.85%-9.4pp

Employer contribution / active EE

$619

$1,265-51.0%

$2,380-74.0%

$2,588-76.1%

Participant deferral / active EE

$3,426

$3,108+10.2%

$3,985-14.0%

$4,289-20.1%

Admin fee / account holder

$484

$1,922-74.8%

$6,852-92.9%

$1,587-69.5%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY4 years

Service code 15 · EIN 01-0233346

Recordkeeping

$4,241

WILSHIRE ASSOCIATES INCORPORATED4 years

Filed as: WILSHIRE ASSOCIATES, INC. (USA)

Service code 26 · EIN 95-2755361

Advisory (Participants)

$2,551

JOHN HANCOCK LIFE INSURANCE COMPANY3 years

Filed as: JOHN HANCOCK LIFE INSURANCE CO. U.S

Service code 15 · EIN 01-0233346

Recordkeeping

WILSHIRE ASSOCIATES INCORPORATED3 years

Filed as: WILSHIRE ASSOCIATES, INC. U.S.A.

Service code 26 · EIN 95-2755361

1299 OCEAN AVENUE · SANTA MONICA, CA 90401

Advisory (Participants)

PORTER AUTOMOTIVE GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PORTER AUTOMOTIVE GROUP 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