Retirement plan

SHERRILL, INC. 401(K) PROFIT SHARING PLAN & TRUST

Name: SHERRILL, INC. - SHERRILL, INC. 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: SHERRILL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHERRILL, INC. 401(K) PROFIT SHARING PLAN & TRUST, SHERRILL, INC.

SHERRILL, INC.EIN 56-0961953Plan #001PY 2024

496 GALLIMORE DAIRY ROAD, SUITE D - GREENSBORO, NC 27409336-378-0444sherrilltree.comLinkedIn51-200 employeesretail

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$12.2M

+14.6% from 2023

Total participants

392

+10.1% from 2023

Average account balance

$32,397

+3.0% from 2023

Annual return

12.48%

-6.00 pp from 2023

Benchmarks

See 2,310 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,310 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.18M

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

376

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.

92.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.45M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$183

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
GLOBAL RETIREMENT PARTNERS LLC4 years Service code 27 · EIN 47-1411118	Advisory (Plan)	$24,717
TRANSAMERICA RETIREMENT SOLUTIONS3 years Service code 15 · EIN 13-3689044	Recordkeeping	$23,818
WELLTH ADVISORY SERVICES LLC1 year Service code 27 · EIN 99-2539506	Advisory (Plan)	$19,735

Plan features & details

Pension benefit codes2E2G2J2K3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$69K

$335 / participant

Recordkeeping$69K100.0%

% of EOY assets

0.566%

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: SMITH LEONARD PLLC
Auditor EIN: 205907591
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,397

$59,448-45.5%

$93,696-65.4%

$74,459-56.5%

Participation rate

92.2%

59.6%+32.6pp

68.7%+23.5pp

67.2%+25.0pp

Annual return

12.48%

82.11%-69.6pp

133.74%-121.3pp

1369.70%-1357.2pp

Employer contribution / active EE

$2,303

$1,266+81.9%

$2,422-4.9%

$2,626-12.3%

Participant deferral / active EE

$4,752

$3,052+55.7%

$4,417+7.6%

$4,350+9.3%

Admin fee / account holder

$183

$3,027-93.9%

$8,287-97.8%

$1,945-90.6%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC4 years

Service code 27 · EIN 47-1411118

Advisory (Plan)

$24,717

TRANSAMERICA RETIREMENT SOLUTIONS3 years

Service code 15 · EIN 13-3689044

Recordkeeping

$23,818

WELLTH ADVISORY SERVICES LLC1 year

Service code 27 · EIN 99-2539506

Advisory (Plan)

$19,735

SHERRILL, INC. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHERRILL, INC. 401(K) PROFIT SHARING PLAN & 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