Retirement plan

CHURCHILL DOWNS INCORPORATED 401(K) RETIREMENT PLAN

Name: CHURCHILL DOWNS INCORPORATED - CHURCHILL DOWNS INCORPORATED 401(K) RETIREMENT PLAN (2018) Form 5500
Creator: CHURCHILL DOWNS INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHURCHILL DOWNS INCORPORATED 401(K) RETIREMENT PLAN, CHURCHILL DOWNS INCORPORATED

CHURCHILL DOWNS INCORPORATEDEIN 61-0156015Plan #003PY 2018

600 NORTH HURSTBOURNE PKWY., SUITE 400 - LOUISVILLE, KY 40222502-638-3887churchilldownsincorporated.comLinkedIn5001-10000 employeesentertainment

Prospect flagsLow returnsLow participationCorrective distributions

Top hat statement on fileNQDC

Filed February 19, 2020 (most recent of 4 filings on file)

Plan administrator

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600 North Hurstbourne Parkway, Suite 400

Louisville, KY 40222

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Plans declared (1)

Churchill Downs Incorporated Restricted Stock Unit Deferral Plan125 emp

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Total assets (EOY)

$88.7M

-31.1% from 2017

Total participants

5,279

+3.3% from 2017

Average account balance

$37,869

-18.5% from 2017

Annual return

-32.21%

-50.72 pp from 2017

Benchmarks

See 136 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants1,000-4,999

Cohort136 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$209.82M

Not enough data

1 years with asset history on file

Average account balance

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

$57K

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.

3,694

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.

31.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$21.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+18.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$61

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 10 of 15 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.4+ years Service code 49 · EIN 04-1590850	Other Services	$260,983
LPL FINANCIAL4+ years Service code 27 · EIN 04-3046611	Advisory (Plan)	$91,667
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27 · EIN 47-1411118	Advisory (Plan)	$8,333
AMERICAN CENTURY2 years Service code 52 · EIN 43-1646043	Indirect Investment Fees	$0
HARBOR2 years Service code 52 · EIN 34-1953393	Indirect Investment Fees	$0
HARRIS1 year Service code 52 · EIN 52-2257782	Indirect Investment Fees	$0
INVESCO2 years Service code 52 · EIN 13-2576643	Indirect Investment Fees	$0
JANUS HENDERSON2 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0
LAZARD ASSET MANAGEMENT2 years Filed as: LAZARD Service code 52 · EIN 20-0169148	Indirect Investment Fees	$0
LEGG MASON2 years Service code 52 · EIN 13-4146187	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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$261K

$55 / participant

Investment mgmt$196K75.1%
Contract admin$65K24.8%
Other / not subdivided$2970.1%

% of EOY assets

0.294%

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: DEAN DORTON ALLEN FORD
Auditor EIN: 273858252
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,869

$407,990-90.7%

$121,220-68.8%

$75,289-49.7%

Participation rate

37.8%

59.5%-21.7pp

71.8%-34.0pp

72.4%-34.6pp

Annual return

-32.21%

2.93%-35.1pp

16.94%-49.1pp

-0.04%-32.2pp

Employer contribution / active EE

$749

$1,846-59.4%

$4,023-81.4%

$2,405-68.8%

Participant deferral / active EE

$1,500

$2,201-31.9%

$3,345-55.2%

$3,739-59.9%

Admin fee / account holder

$111

$455-75.5%

$5,021-97.8%

$102+8.9%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.4+ years

Service code 49 · EIN 04-1590850

Other Services

$260,983

LPL FINANCIAL4+ years

Service code 27 · EIN 04-3046611

Advisory (Plan)

$91,667

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27 · EIN 47-1411118

Advisory (Plan)

$8,333

AMERICAN CENTURY2 years

Service code 52 · EIN 43-1646043

Indirect Investment Fees

HARBOR2 years

Service code 52 · EIN 34-1953393

Indirect Investment Fees

HARRIS1 year

Service code 52 · EIN 52-2257782

Indirect Investment Fees

INVESCO2 years

Service code 52 · EIN 13-2576643

Indirect Investment Fees

JANUS HENDERSON2 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

LAZARD ASSET MANAGEMENT2 years

Filed as: LAZARD

Service code 52 · EIN 20-0169148

Indirect Investment Fees

LEGG MASON2 years

Service code 52 · EIN 13-4146187

Indirect Investment Fees

CHURCHILL DOWNS INCORPORATED 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHURCHILL DOWNS INCORPORATED 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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