Retirement plan

CHEROKEE DISTRIBUTING COMPANY, INC. EMPLOYEES' PROFIT SHARING PLAN

Name: CHEROKEE DISTRIBUTING COMPANY, INC. - CHEROKEE DISTRIBUTING COMPANY, INC. EMPLOYEES' PROFIT SHARING PLAN (2023) Form 5500
Creator: CHEROKEE DISTRIBUTING COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHEROKEE DISTRIBUTING COMPANY, INC. EMPLOYEES' PROFIT SHARING PLAN, CHEROKEE DISTRIBUTING COMPANY, INC.

CHEROKEE DISTRIBUTING COMPANY, INC.EIN 62-0921075Plan #002PY 2023

200 MILLER MAIN CIRCLE - KNOXVILLE, TN 37919865-588-7641cherokeedistributing.comLinkedIn51-200 employees

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$31.3M

+19.4% from 2022

Total participants

382

+0.5% from 2022

Average account balance

$83,986

+19.4% from 2022

Annual return

10.92%

+21.44 pp from 2022

Benchmarks

See 1,359 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,359 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$32.77M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

383

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.

85.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.88M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+8.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$449

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
WEAVER C. BARKSDALE & ASSOCIATES9+ years Filed as: MARTIN & COMPANY, LP Service code 27 · EIN 62-1398934	Advisory (Plan)	$90,858
MERRILL LYNCH PIERCE FENNER & SMITH9+ years Filed as: MERRILL LYNCH Service code 21 · EIN 13-2638166	Bank Trustee	$57,393
TENNESSEE PENSION ADMINISTRATORS9+ years Service code 15 · EIN 62-1757444	Recordkeeping	$16,945
PUGH & COMPANY, PC9+ years Service code 10 · EIN 62-1142155	Accounting	$15,500

Plan features & details

Pension benefit codes2A2E2J3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
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.
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.

Opportunity flags

2 tripped

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.

Expense breakdown

Schedule H Part II

Admin total

$181K

$531 / participant

Recordkeeping$148K82.0%
Salaries / allowances$16K8.6%
Contract admin$17K9.4%

% of EOY assets

0.577%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PUGH CPA
Auditor EIN: 621141255
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$83,986

$91,406-8.1%

$130,062-35.4%

$74,473+12.8%

Participation rate

97.4%

77.8%+19.5pp

78.5%+18.8pp

70.7%+26.6pp

Annual return

10.92%

23.21%-12.3pp

-137.37%+148.3pp

34.36%-23.4pp

Employer contribution / active EE

$5,958

$2,565+132.3%

$4,322+37.8%

$2,638+125.8%

Participant deferral / active EE

$2,792

$4,724-40.9%

$5,821-52.0%

$4,530-38.4%

Admin fee / account holder

$484

$283+71.0%

$10,601-95.4%

$347+39.6%

Provider

Service type

Compensation

WEAVER C. BARKSDALE & ASSOCIATES9+ years

Filed as: MARTIN & COMPANY, LP

Service code 27 · EIN 62-1398934

Advisory (Plan)

$90,858

MERRILL LYNCH PIERCE FENNER & SMITH9+ years

Filed as: MERRILL LYNCH

Service code 21 · EIN 13-2638166

Bank Trustee

$57,393

TENNESSEE PENSION ADMINISTRATORS9+ years

Service code 15 · EIN 62-1757444

Recordkeeping

$16,945

PUGH & COMPANY, PC9+ years

Service code 10 · EIN 62-1142155

Accounting

$15,500

CHEROKEE DISTRIBUTING COMPANY, INC. EMPLOYEES' PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHEROKEE DISTRIBUTING COMPANY, INC. EMPLOYEES' 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