Retirement plan

RIGGS OIL CO. 401(K) PLAN

Name: RIGGS OIL CO, INC. - RIGGS OIL CO. 401(K) PLAN (2023) Form 5500
Creator: RIGGS OIL CO, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RIGGS OIL CO. 401(K) PLAN, RIGGS OIL CO, INC.

RIGGS OIL CO, INC.EIN 54-0883391Plan #001PY 2023

1505 1ST AVE E - BIG STONE GAP, VA 242193189276-523-2662riggsoil.comLinkedIn1-10 employeesconsumer services

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$1.7M

+24.9% from 2022

Total participants

141

-1.4% from 2022

Average account balance

$14,135

+17.8% from 2022

Annual return

15.30%

+32.36 pp from 2022

Benchmarks

See 2,346 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,346 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.86M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

121

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.

64.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$163K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+9.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$150

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
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$12,520
SOUTH-WEST INS AGENCY INC4 years Service code 27 220 WOOD AVE E · BIG STONE GAP, VA 242192822	Advisory (Plan)	$3,648
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$51

Plan features & details

Pension benefit codes2E2F2G2H2J2K3B3D

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$16K

$159 / participant

Recordkeeping$13K77.2%
Investment mgmt$4K22.8%

% of EOY assets

0.941%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RODEFER MOSS & CO, PLLC
Auditor EIN: 621690032
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,135

$83,045-83.0%

$130,045-89.1%

$71,511-80.2%

Participation rate

81.4%

74.1%+7.2pp

78.5%+2.9pp

67.9%+13.4pp

Annual return

15.30%

20.61%-5.3pp

-137.30%+152.6pp

28.86%-13.6pp

Employer contribution / active EE

$818

$2,623-68.8%

$4,321-81.1%

$2,589-68.4%

Participant deferral / active EE

$1,159

$4,436-73.9%

$5,820-80.1%

$4,291-73.0%

Admin fee / account holder

$133

$1,727-92.3%

$10,600-98.7%

$1,588-91.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$12,520

SOUTH-WEST INS AGENCY INC4 years

Service code 27

220 WOOD AVE E · BIG STONE GAP, VA 242192822

Advisory (Plan)

$3,648

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$51

RIGGS OIL CO. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RIGGS OIL CO. 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