Retirement plan

MERRIFIELD GARDEN CENTER 401(K) PROFIT SHARING RETIREMENT PLAN

Name: MERRIFIELD GARDEN CENTER - MERRIFIELD GARDEN CENTER 401(K) PROFIT SHARING RETIREMENT PLAN (2023) Form 5500
Creator: MERRIFIELD GARDEN CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MERRIFIELD GARDEN CENTER 401(K) PROFIT SHARING RETIREMENT PLAN, MERRIFIELD GARDEN CENTER

MERRIFIELD GARDEN CENTEREIN 54-0936775Plan #001PY 2023

8132 LEE HIGHWAY - FALLS CHURCH, VA 22042703-208-2628merrifieldgardencenter.comLinkedIn501-1000 employeesconsumer goods

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$21.4M

+9.7% from 2022

Total participants

367

-1.6% from 2022

Average account balance

$92,238

+14.4% from 2022

Annual return

17.65%

+34.36 pp from 2022

Benchmarks

See 1,316 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,316 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.65M

Not enough data

1 years with asset history on file

Average account balance

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

$141K

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.

154

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.

36.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$569K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+15.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$382

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 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS. CO. OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$39,857
CETERA ADVISOR NETWORKS LLC5 years Service code 55 2301 ROSECRANS AVE., #5100 · HERNDON, VA 902455670	Other Commissions	$36,566
LEAFHOUSE FINANCIAL ADVISORS, LLC2 years Service code 27 6300 BRIDGE POINT PKWY BLDG 1 STE 3 · AUSTIN, TX 787305097	Advisory (Plan)	$9,960
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	$4,266

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$54K

$176 / participant

Recordkeeping$40K73.7%
Investment mgmt$14K26.3%

% of EOY assets

0.253%

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: FORVIS MAZARS LLP
Auditor EIN: 440160260
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$92,238

$53,165+73.5%

$86,235+7.0%

$74,473+23.9%

Participation rate

56.0%

64.9%-8.8pp

69.0%-12.9pp

70.7%-14.7pp

Annual return

17.65%

22.64%-5.0pp

1170.03%-1152.4pp

34.36%-16.7pp

Employer contribution / active EE

$1,210-100.0%

$2,381-100.0%

$2,638-100.0%

Participant deferral / active EE

$1,869

$3,234-42.2%

$3,987-53.1%

$4,530-58.7%

Admin fee / account holder

$233

$551-57.7%

$6,856-96.6%

$347-32.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS. CO. OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$39,857

CETERA ADVISOR NETWORKS LLC5 years

Service code 55

2301 ROSECRANS AVE., #5100 · HERNDON, VA 902455670

Other Commissions

$36,566

LEAFHOUSE FINANCIAL ADVISORS, LLC2 years

Service code 27

6300 BRIDGE POINT PKWY BLDG 1 STE 3 · AUSTIN, TX 787305097

Advisory (Plan)

$9,960

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

$4,266

MERRIFIELD GARDEN CENTER 401(K) PROFIT SHARING RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MERRIFIELD GARDEN CENTER 401(K) PROFIT SHARING RETIREMENT 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