Retirement plan

PALMETTO PROPANE, FUELS, AND ICE, INC. 401(K) PLAN

Name: PALMETTO PROPANE, FUELS, AND ICE, INC. - PALMETTO PROPANE, FUELS, AND ICE, INC. 401(K) PLAN (2021) Form 5500
Creator: PALMETTO PROPANE, FUELS, AND ICE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PALMETTO PROPANE, FUELS, AND ICE, INC. 401(K) PLAN, PALMETTO PROPANE, FUELS, AND ICE, INC.

PALMETTO PROPANE, FUELS, AND ICE, INC.EIN 57-0744136Plan #002PY 2021

131 W. CHURCH STREET - BATESBURG, SC 29006803-532-4414palmettopropane.comLinkedIn201-500 employeesoil & energy

Prospect flagsLow returnsLow assets / participantLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$3.6M

+15.9% from 2020

Total participants

131

-1.5% from 2020

Average account balance

$29,754

+13.0% from 2020

Annual return

10.08%

-24.14 pp from 2020

Benchmarks

See 9,036 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,036 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.07M

Not enough data

1 years with asset history on file

Average account balance

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

$28K

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.

108

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.

84.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$389K

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

+15.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$252

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 4 by compensation

Provider	Service type	Compensation
CETERA ADVISOR NETWORKS LLC2 years Service code 27 2301 ROSECRANS AVE., #5100 · EL SEGUNDO, CA 902455670	Advisory (Plan)	$13,791
AMERICAN FUNDS2 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$4,570
GOLDLEAF PARTNERS2 years Filed as: GOLDLEAF PARTNERS SERVICES Service code 13 PO BOX 55757 · BOSTON, MA 02205	Contract Administrator	$836
ASCENSUS LLC1 year Filed as: FUTUREPLAN BY ASCENSUS Service code 13 PO BOX 55757 · BOSTON, MA 02205	Contract Administrator	$390

Plan features & details

Pension benefit codes2F2G2J2K2T3D2S3H

Plan features

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$20K

$207 / participant

Contract admin$20K100.0%

% of EOY assets

0.546%

all-in expense ratio

Categories reported

1 / 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: MCGREGOR & COMPANY, LLP
Auditor EIN: 570292726
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,754

$99,994-70.2%

$146,647-79.7%

$85,851-65.3%

Participation rate

89.5%

73.1%+16.4pp

80.1%+9.4pp

69.3%+20.2pp

Annual return

10.08%

18.93%-8.8pp

22.75%-12.7pp

318.63%-308.6pp

Employer contribution / active EE

$589

$2,559-77.0%

$4,137-85.8%

$2,565-77.0%

Participant deferral / active EE

$2,357

$4,006-41.2%

$5,506-57.2%

$3,952-40.4%

Admin fee / account holder

$162

$7,703-97.9%

$10,281-98.4%

$6,261-97.4%

Provider

Service type

Compensation

CETERA ADVISOR NETWORKS LLC2 years

Service code 27

2301 ROSECRANS AVE., #5100 · EL SEGUNDO, CA 902455670

Advisory (Plan)

$13,791

AMERICAN FUNDS2 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$4,570

GOLDLEAF PARTNERS2 years

Filed as: GOLDLEAF PARTNERS SERVICES

Service code 13

PO BOX 55757 · BOSTON, MA 02205

Contract Administrator

$836

ASCENSUS LLC1 year

Filed as: FUTUREPLAN BY ASCENSUS

Service code 13

PO BOX 55757 · BOSTON, MA 02205

Contract Administrator

$390

PALMETTO PROPANE, FUELS, AND ICE, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PALMETTO PROPANE, FUELS, AND ICE, 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