Retirement plan

WATSCO, INC. PROFIT SHARING RETIREMENT PLAN AND TRUST

Name: WATSCO, INC. - WATSCO, INC. PROFIT SHARING RETIREMENT PLAN AND TRUST (2016) Form 5500
Creator: WATSCO, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WATSCO, INC. PROFIT SHARING RETIREMENT PLAN AND TRUST, WATSCO, INC.

WATSCO, INC.EIN 59-0778222Plan #001PY 2016

2665 S. BAYSHORE DRIVE, SUITE 901 - MIAMI, FL 33133305-714-4100watsco.comLinkedIn5001-10000 employeeswholesale

Prospect flagsLow participationLow employer contributionLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$114.6M

-5.0% from 2016

Total participants

3,098

-24.1% from 2016

Average account balance

$61,343

+15.5% from 2016

Annual return

10.06%

-4.58 pp from 2016

Benchmarks

See 241 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort241 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$562.08M

Not enough data

1 years with asset history on file

Average account balance

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

$73K

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.

7,751

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.

94.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$46.65M

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

+15.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

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
MARCUM LLP1 year Service code 10 3 BALA PLAZA EAST · BALA CYNWYD, PA 19004	Accounting	$17,500
T ROWE PRICE RPS INC2+ years Service code 15 100 EAST PRATT STREET · BALTIMORE, MD 21202	Recordkeeping	$11,126
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN LEWIS BOCKIUS LLP Service code 29 ONE OXFORD CENTRE · PITTSBURGH, PA 15219	Legal	$6,110

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$35K

$13 / participant

Other / not subdivided$35K100.0%

% of EOY assets

0.030%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MARCUM LLP
Auditor EIN: 111986323
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,343

$61,125+0.4%

$108,582-43.5%

$63,975-4.1%

Participation rate

54.1%

80.5%-26.4pp

79.6%-25.4pp

71.1%-17.0pp

Annual return

10.06%

14.06%-4.0pp

-51.70%+61.8pp

48.65%-38.6pp

Employer contribution / active EE

$376

$2,237-83.2%

$3,758-90.0%

$2,182-82.8%

Participant deferral / active EE

$1,736

$3,574-51.4%

$4,311-59.7%

$3,356-48.3%

Admin fee / account holder

$19

$72-74.1%

$7,645-99.8%

$70-73.6%

Provider

Service type

Compensation

MARCUM LLP1 year

Service code 10

3 BALA PLAZA EAST · BALA CYNWYD, PA 19004

Accounting

$17,500

T ROWE PRICE RPS INC2+ years

Service code 15

100 EAST PRATT STREET · BALTIMORE, MD 21202

Recordkeeping

$11,126

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN LEWIS BOCKIUS LLP

Service code 29

ONE OXFORD CENTRE · PITTSBURGH, PA 15219

Legal

$6,110

WATSCO, INC. PROFIT SHARING RETIREMENT PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WATSCO, INC. PROFIT SHARING RETIREMENT 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