Retirement plan

FIRST CAROLINA MANAGEMENT, INC. 401(K) PLAN

Name: FIRST CAROLINA MANAGEMENT, INC. - FIRST CAROLINA MANAGEMENT, INC. 401(K) PLAN (2022) Form 5500
Creator: FIRST CAROLINA MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST CAROLINA MANAGEMENT, INC. 401(K) PLAN, FIRST CAROLINA MANAGEMENT, INC.

FIRST CAROLINA MANAGEMENT, INC.EIN 56-1672011Plan #001PY 2022

PO BOX 7246 - ROCKY MOUNT, NC 27804252-937-8111firstcarolinamortgage.comLinkedIn1-10 employeesfinancial services

Prospect flagsHigh cashLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$2.3M

-13.6% from 2021

Total participants

216

-13.6% from 2021

Average account balance

$17,429

-10.4% from 2021

Annual return

-14.10%

-24.17 pp from 2021

Benchmarks

See 1,006 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants100-249

Cohort1,006 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.63M

Not enough data

1 years with asset history on file

Average account balance

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

$13K

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.

195

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.

54.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$198K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+12.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$45

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
STANLEY BENEFIT SERVICES, INC.5 years Filed as: STANLEY BENEFIT SERVICES Service code 37 · EIN 20-4006400	Loan Processing	$5,216
FUND DIRECT ADVISORS5 years Service code 26 · EIN 27-3584365	Advisory (Participants)	$2,987
STIFEL NICOLAUS & CO INC5 years Filed as: STIFEL INVESTMENT SERVICES Service code 26 · EIN 43-1273600	Advisory (Participants)	$2,765

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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 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.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$12K

$78 / participant

Investment mgmt$12K97.9%
Other / not subdivided$2592.1%

% of EOY assets

0.517%

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: BUNCH & COMPANY
Auditor EIN: 561852200
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,429

$26,549-34.4%

$61,501-71.7%

$66,949-74.0%

Participation rate

47.1%

38.1%+9.0pp

52.6%-5.5pp

69.8%-22.7pp

Annual return

-14.10%

-16.21%+2.1pp

339.04%-353.1pp

1.57%-15.7pp

Employer contribution / active EE

$85

$651-87.0%

$1,160-92.7%

$2,545-96.7%

Participant deferral / active EE

$1,158

$1,338-13.4%

$2,125-45.5%

$4,239-72.7%

Admin fee / account holder

$90

$409-77.9%

$2,132-95.8%

$594-84.8%

Provider

Service type

Compensation

STANLEY BENEFIT SERVICES, INC.5 years

Filed as: STANLEY BENEFIT SERVICES

Service code 37 · EIN 20-4006400

Loan Processing

$5,216

FUND DIRECT ADVISORS5 years

Service code 26 · EIN 27-3584365

Advisory (Participants)

$2,987

STIFEL NICOLAUS & CO INC5 years

Filed as: STIFEL INVESTMENT SERVICES

Service code 26 · EIN 43-1273600

Advisory (Participants)

$2,765

FIRST CAROLINA MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST CAROLINA MANAGEMENT, INC. 401(K) 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