Retirement plan

WILLIAMS FARMS 401(K) PLAN

Name: FRANK T. WILLIAMS FARMS - WILLIAMS FARMS 401(K) PLAN (2021) Form 5500
Creator: FRANK T. WILLIAMS FARMS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WILLIAMS FARMS 401(K) PLAN, FRANK T. WILLIAMS FARMS

FRANK T. WILLIAMS FARMSEIN 54-0673183Plan #001PY 2021

5021 MORRIS NECK RD - VIRGINIA BEACH, VA 234571351757-426-6281LinkedIn1-10 employeesfarming

Prospect flagsHigh feesLow participationLow participant contribution

How to read this page

Total assets (EOY)

$856K

+13.4% from 2020

Total participants

-6.9% from 2020

Average account balance

$53,499

-0.8% from 2020

Annual return

11.33%

-7.61 pp from 2020

Benchmarks

See 2,182 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants25-99

Cohort2,182 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$812K

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

35.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$41K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$905

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

+10.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12624

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 codes2E2F2G2J2T3B3D3H

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.
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.
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.)

Expense breakdown

Schedule H Part II

Admin total

$26K

$479 / participant

Other / not subdivided$26K100.0%

% of EOY assets

3.022%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$53,499

$70,587-24.2%

$124,694-57.1%

$85,851-37.7%

Participation rate

29.6%

64.4%-34.8pp

74.6%-45.0pp

69.3%-39.7pp

Annual return

11.33%

20688.83%-20677.5pp

5144.82%-5133.5pp

318.63%-307.3pp

Employer contribution / active EE

$1,913-100.0%

$3,325-100.0%

$2,565-100.0%

Participant deferral / active EE

$738

$2,969-75.1%

$4,615-84.0%

$3,952-81.3%

Admin fee / account holder

$1,617

$5,282-69.4%

$7,495-78.4%

$6,261-74.2%

WILLIAMS FARMS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WILLIAMS FARMS 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