Retirement plan

FIRST MERCHANT SERVICES, INC. 401(K) PROFIT SHARING PLAN

Name: FIRST MERCHANT SERVICES, INC. - FIRST MERCHANT SERVICES, INC. 401(K) PROFIT SHARING PLAN (2017) Form 5500
Creator: FIRST MERCHANT SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST MERCHANT SERVICES, INC. 401(K) PROFIT SHARING PLAN, FIRST MERCHANT SERVICES, INC.

FIRST MERCHANT SERVICES, INC.EIN 52-2102705Plan #001PY 2017

PO BOX 34 - SPENCERVILLE, MD 208680034301-421-4111

Prospect flagsHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$2.3M

+24.3% from 2016

Total participants

0.0% from 2016

Average account balance

$377,391

+24.3% from 2016

Annual return

17.04%

+7.35 pp from 2016

Benchmarks

See 11,957 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort11,957 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.91M

Not enough data

1 years with asset history on file

Average account balance

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

$972K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$28K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+7.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3349

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

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

2 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

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: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$377,391

$101,063+273.4%

$81,473+363.2%

$147,586+155.7%

Participation rate

100.0%

74.5%+25.5pp

68.0%+32.0pp

82.8%+17.2pp

Annual return

17.04%

32.41%-15.4pp

38.78%-21.7pp

578.59%-561.5pp

Employer contribution / active EE

$10,760

$3,206+235.7%

$2,568+319.0%

$4,876+120.7%

Participant deferral / active EE

$15,627

$4,242+268.4%

$3,537+341.8%

$5,439+187.3%

Admin fee / account holder

$5,812-100.0%

$4,561-100.0%

$10,886-100.0%

FIRST MERCHANT SERVICES, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

FIRST MERCHANT SERVICES, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion