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 (2023) 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 2023

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

Prospect flagsLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$3.7M

+33.2% from 2022

Total participants

151

+1.3% from 2022

Average account balance

$26,952

+37.1% from 2022

Annual return

24.21%

+51.60 pp from 2022

Benchmarks

See 2,343 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,343 peers

Snapshot2023

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
LONGLEAF ADVISORY SERVICES1 year Service code 27 171 LOTT CT · WEST COLUMBIA, SC 29169	Advisory (Plan)	$10,602
AMERICAN FUNDS4 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$8,201
CETERA ADVISOR NETWORKS LLC4 years Service code 27 2301 ROSECRANS AVE., #5100 · EL SEGUNDO, CA 902455670	Advisory (Plan)	$3,021
ASCENSUS LLC3 years Filed as: FUTUREPLAN BY ASCENSUS Service code 13 23693 NETWORK PL · CHICAGO, IL 60673	Contract Administrator	$671

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

2 tripped

OpportunityLow employer contribution
Employer contribution per participant 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.

Expense breakdown

Schedule H Part II

Admin total

$22K

$214 / participant

Contract admin$22K100.0%

% of EOY assets

0.589%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,952

$83,090-67.6%

$130,062-79.3%

$71,529-62.3%

Participation rate

85.1%

74.1%+11.0pp

78.5%+6.6pp

67.9%+17.2pp

Annual return

24.21%

20.61%+3.6pp

-137.37%+161.6pp

28.97%-4.8pp

Employer contribution / active EE

$747

$2,624-71.5%

$4,322-82.7%

$2,590-71.2%

Participant deferral / active EE

$2,989

$4,436-32.6%

$5,821-48.6%

$4,291-30.3%

Admin fee / account holder

$159

$1,727-90.8%

$10,601-98.5%

$1,588-90.0%

Provider

Service type

Compensation

LONGLEAF ADVISORY SERVICES1 year

Service code 27

171 LOTT CT · WEST COLUMBIA, SC 29169

Advisory (Plan)

$10,602

AMERICAN FUNDS4 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$8,201

CETERA ADVISOR NETWORKS LLC4 years

Service code 27

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

Advisory (Plan)

$3,021

ASCENSUS LLC3 years

Filed as: FUTUREPLAN BY ASCENSUS

Service code 13

23693 NETWORK PL · CHICAGO, IL 60673

Contract Administrator

$671

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