Retirement plan

B.V. HEDRICK GRAVEL AND SAND COMPANY SALARY DEFERRAL AND PROFIT SHARING PLAN

Name: B.V. HEDRICK GRAVEL AND SAND COMPANY - B.V. HEDRICK GRAVEL AND SAND COMPANY SALARY DEFERRAL AND PROFIT SHARING PLAN (2021) Form 5500
Creator: B.V. HEDRICK GRAVEL AND SAND COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, B.V. HEDRICK GRAVEL AND SAND COMPANY SALARY DEFERRAL AND PROFIT SHARING PLAN, B.V. HEDRICK GRAVEL AND SAND COMPANY

B.V. HEDRICK GRAVEL AND SAND COMPANYEIN 56-0257665Plan #002PY 2021

P. O. BOX 1040, 120 1/2 NORTH CHURCH ST. - SALISBURY, NC 28145704-603-3412LinkedIn51-200 employeesmining & metals

Prospect flagsLow returnsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$10.1M

+21.5% from 2020

Total participants

166

+3.8% from 2020

Average account balance

$61,507

+17.1% from 2020

Annual return

11.41%

+1.34 pp from 2020

Benchmarks

See 265 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants100-249

Cohort265 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.04M

Not enough data

1 years with asset history on file

Average account balance

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

$85K

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.

178

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.

97.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.57M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+11.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$358

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 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$37,970
WELLS FARGO BANK, N.A.2 years Service code 15 · EIN 94-1347393	Recordkeeping	$20,905
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MGMT LLC Service code 26 · EIN 36-4317381	Advisory (Participants)	$0
WILSHIRE ASSOCIATES INCORPORATED1 year Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

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 transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$59K

$499 / participant

Contract admin$38K64.5%
Other / not subdivided$21K35.5%

% of EOY assets

0.580%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ANDERSON SMITH & WIKE PLLC
Auditor EIN: 271473864
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,507

$82,274-25.2%

$152,473-59.7%

$79,391-22.5%

Participation rate

99.2%

76.4%+22.7pp

78.2%+21.0pp

70.7%+28.4pp

Annual return

11.41%

7959.84%-7948.4pp

757.59%-746.2pp

116.88%-105.5pp

Employer contribution / active EE

$6,225

$3,613+72.3%

$4,326+43.9%

$2,428+156.4%

Participant deferral / active EE

$4,964

$4,969-0.1%

$5,817-14.7%

$4,046+22.7%

Admin fee / account holder

$357

$632-43.6%

$15,811-97.7%

$627-43.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$37,970

WELLS FARGO BANK, N.A.2 years

Service code 15 · EIN 94-1347393

Recordkeeping

$20,905

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MGMT LLC

Service code 26 · EIN 36-4317381

Advisory (Participants)

WILSHIRE ASSOCIATES INCORPORATED1 year

Service code 27 · EIN 95-2755361

Advisory (Plan)

B.V. HEDRICK GRAVEL AND SAND COMPANY SALARY DEFERRAL AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

B.V. HEDRICK GRAVEL AND SAND COMPANY SALARY DEFERRAL AND 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