Retirement plan

JARRETT ENTERPRISES 401(K) PROFIT SHARING PLAN

Name: BILL JARRETT FORD, INC. - JARRETT ENTERPRISES 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: BILL JARRETT FORD, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JARRETT ENTERPRISES 401(K) PROFIT SHARING PLAN, BILL JARRETT FORD, INC.

BILL JARRETT FORD, INC.EIN 59-1637589Plan #001PY 2020

1305 US HIGHWAY 27 NORTH - AVON PARK, FL 33825863-453-3117jarrettfordavonpark.comLinkedIn201-500 employeesretail

Prospect flagsLow returnsHigh feesLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$9.7M

+8.4% from 2019

Total participants

330

-13.4% from 2019

Average account balance

$49,651

+11.7% from 2019

Annual return

10.85%

-9.53 pp from 2019

Benchmarks

See 1,285 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,285 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.62M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

312

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.

60.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.06M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+19.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$69

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 9 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 49 · EIN 04-1590850	Other Services	$42,331
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES FIN SVCS ADV, INC. Service code 27 · EIN 59-2937883	Advisory (Plan)	$17,412
AMERICAN CENTURY4 years Service code 52 · EIN 43-1646043	Indirect Investment Fees	$0
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
FRANKLIN TEMPLETON4 years Filed as: FRANKLINTEMPLETON Service code 52 · EIN 13-3151768	Indirect Investment Fees	$0
INVESCO4 years Service code 52 · EIN 84-0933032	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY2 years Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT4 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO Service code 52 · EIN 41-0449260	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2T

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.
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

5 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 fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return 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

$60K

$187 / participant

Investment mgmt$58K96.8%
Contract admin$2K3.2%

% of EOY assets

0.617%

all-in expense ratio

Categories reported

2 / 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: DWIGHT DARBY & COMPANY
Auditor EIN: 592146292
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$49,651

$64,286-22.8%

$90,970-45.4%

$73,412-32.4%

Participation rate

57.7%

63.6%-5.9pp

69.0%-11.3pp

72.2%-14.5pp

Annual return

10.85%

21.46%-10.6pp

134.60%-123.7pp

59.30%-48.4pp

Employer contribution / active EE

$895-99.9%

$2,122-100.0%

$2,234-100.0%

Participant deferral / active EE

$1,566

$2,453-36.2%

$3,373-53.6%

$3,806-58.9%

Admin fee / account holder

$306

$287+6.7%

$5,961-94.9%

$158+94.0%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 49 · EIN 04-1590850

Other Services

$42,331

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES FIN SVCS ADV, INC.

Service code 27 · EIN 59-2937883

Advisory (Plan)

$17,412

AMERICAN CENTURY4 years

Service code 52 · EIN 43-1646043

Indirect Investment Fees

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

FRANKLIN TEMPLETON4 years

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 13-3151768

Indirect Investment Fees

INVESCO4 years

Service code 52 · EIN 84-0933032

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY2 years

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT4 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

WELLS FARGO BANK, N.A.4 years

Filed as: WELLS FARGO

Service code 52 · EIN 41-0449260

Indirect Investment Fees

JARRETT ENTERPRISES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JARRETT ENTERPRISES 401(K) PROFIT SHARING 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