Retirement plan

DAVIS FURNITURE INDUSTRIES, INC. EMPLOYEES' 401(K) PLAN AND TRUST

Name: DAVIS FURNITURE INDUSTRIES, INC. - DAVIS FURNITURE INDUSTRIES, INC. EMPLOYEES' 401(K) PLAN AND TRUST (2016) Form 5500
Creator: DAVIS FURNITURE INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DAVIS FURNITURE INDUSTRIES, INC. EMPLOYEES' 401(K) PLAN AND TRUST, DAVIS FURNITURE INDUSTRIES, INC.

DAVIS FURNITURE INDUSTRIES, INC.EIN 56-0591838Plan #003PY 2016

PO BOX 2065, 2401 S. COLLEGE DR - HIGH POINT, NC 27261336-889-2009davis-furniture.comLinkedIn51-200 employeesfurniture

Other plans on this EIN

1 filing

#001Retirement-$4.5M assets

Prospect flagsLow participationLow assets / participant

How to read this page

Total assets (EOY)

$2.8M

No prior year

Total participants

191

No prior year

Average account balance

$24,026

No prior year

Annual return

6.79%

No prior year

Benchmarks

See 4,221 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,221 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.29M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

207

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.

70.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$868K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+14.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$129

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 2 by compensation

Provider	Service type	Compensation
HIGH POINT BANK1+ years Service code 21 · EIN 56-6129051	Bank Trustee	$7,797
EPIC RETIREMENT PLAN SERVICES1+ years Filed as: EPIC ADVISORS, INC. Service code 15 · EIN 16-1450952	Recordkeeping	$4,054

Plan features & details

Pension benefit codes2E2F2G2J2K3F

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$85 / participant

Other / not subdivided$16K100.0%

% of EOY assets

0.579%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: SHARRARD, MCGEE & CO. P.A.
Auditor EIN: 561146197
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,026

$60,165-60.1%

$74,184-67.6%

$55,167-56.4%

Participation rate

59.6%

74.2%-14.6pp

76.6%-17.0pp

69.0%-9.4pp

Annual return

6.79%

10.00%-3.2pp

17.74%-10.9pp

169.23%-162.4pp

Employer contribution / active EE

$1,600-100.0%

$2,370-100.0%

$1,963-100.0%

Participant deferral / active EE

$1,957

$2,973-34.2%

$3,550-44.9%

$3,054-35.9%

Admin fee / account holder

$139

$419-66.8%

$5,586-97.5%

$504-72.4%

Provider

Service type

Compensation

HIGH POINT BANK1+ years

Service code 21 · EIN 56-6129051

Bank Trustee

$7,797

EPIC RETIREMENT PLAN SERVICES1+ years

Filed as: EPIC ADVISORS, INC.

Service code 15 · EIN 16-1450952

Recordkeeping

$4,054

DAVIS FURNITURE INDUSTRIES, INC. EMPLOYEES' 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DAVIS FURNITURE INDUSTRIES, INC. EMPLOYEES' 401(K) PLAN AND TRUST

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