Retirement plan

ROSS & SONS UTILITY CONTRACTOR, INC. 401(K) PROFIT SHARING PLAN

Name: ROSS & SONS UTILITY CONTRACTOR, INC - ROSS & SONS UTILITY CONTRACTOR, INC. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: ROSS & SONS UTILITY CONTRACTOR, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ROSS & SONS UTILITY CONTRACTOR, INC. 401(K) PROFIT SHARING PLAN, ROSS & SONS UTILITY CONTRACTOR, INC

ROSS & SONS UTILITY CONTRACTOR, INCEIN 54-1316705Plan #001PY 2020

913 VENTURES WAY - CHESAPEAKE, VA 233202857757-436-2018rossandsonsutility.comLinkedIn51-200 employeesconstruction

Other plans on this EIN

1 filing

#002Retirement-$2.3M assets

Prospect flagsLow returnsHigh feesLow participant contributionFailed to provide benefit

How to read this page

Total assets (EOY)

$10.1M

+10.7% from 2019

Total participants

154

+20.3% from 2019

Average account balance

$65,340

-10.1% from 2019

Annual return

5.47%

+0.66 pp from 2019

Benchmarks

See 16,253 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort16,253 peers

Snapshot2020

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$12.66M

Not enough data

1 years with asset history on file

Average account balance

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

$73K

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.

174

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.

74.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$606K

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

+13.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$320

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 3 by compensation

Provider	Service type	Compensation
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES Service code 26 · EIN 59-1237041	Advisory (Participants)	$72,691
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Filed as: JOHN HANCOCK LIFE INS CO Service code 15 · EIN 01-0233346	Recordkeeping	$9,206
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH Service code 26 · EIN 13-5674085	Advisory (Participants)	$716

Plan features & details

Pension benefit codes2A2E2F2H2J2K2T3D

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).
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.
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

4 tripped

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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Admin total

$89K

$947 / participant

Contract admin$85K95.3%
Other / not subdivided$4K4.7%

% of EOY assets

0.884%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: COLBY & COMPANY, PLC
Auditor EIN: 541391989
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,340

$72,277-9.6%

$101,248-35.5%

$79,858-18.2%

Participation rate

100.0%

68.5%+31.5pp

75.8%+24.2pp

69.6%+30.4pp

Annual return

5.47%

22.30%-16.8pp

46.47%-41.0pp

31.71%-26.2pp

Employer contribution / active EE

$5,203

$2,692+93.3%

$3,660+42.2%

$2,471+110.6%

Participant deferral / active EE

$1,206

$3,282-63.3%

$4,370-72.4%

$3,740-67.8%

Admin fee / account holder

$578

$4,400-86.9%

$5,945-90.3%

$5,306-89.1%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES

Service code 26 · EIN 59-1237041

Advisory (Participants)

$72,691

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Filed as: JOHN HANCOCK LIFE INS CO

Service code 15 · EIN 01-0233346

Recordkeeping

$9,206

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH

Service code 26 · EIN 13-5674085

Advisory (Participants)

$716

ROSS & SONS UTILITY CONTRACTOR, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ROSS & SONS UTILITY CONTRACTOR, INC. 401(K) PROFIT SHARING 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