Retirement plan

FIRSTSTREET FOR BOOMERS AND BEYOND, INC. 401(K) PLAN

Name: FIRSTSTREET FOR BOOMERS AND BEYOND, INC - FIRSTSTREET FOR BOOMERS AND BEYOND, INC. 401(K) PLAN (2022) Form 5500
Creator: FIRSTSTREET FOR BOOMERS AND BEYOND, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRSTSTREET FOR BOOMERS AND BEYOND, INC. 401(K) PLAN, FIRSTSTREET FOR BOOMERS AND BEYOND, INC

FIRSTSTREET FOR BOOMERS AND BEYOND, INCEIN 62-1314909Plan #001PY 2022

6800 PARAGON PLACE SUITE 520 - RICHMOND, VA 23230804-524-9888

Prospect flagsLow participationLow employer contributionRecently reached 100 employees

How to read this page

Total assets (EOY)

$3.7M

-31.8% from 2021

Total participants

150

-5.7% from 2021

Average account balance

$35,837

-50.5% from 2021

Annual return

-15.56%

-30.49 pp from 2021

Benchmarks

See 473 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort473 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.09M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

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.

103.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$214K

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

+16.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5571

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

0 years with F_SCH_H allocation on file

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$15,044
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO CLEARING Service code 27 · EIN 34-1542819	Advisory (Plan)	$12,833

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$28K

$238 / participant

Investment mgmt$13K46.0%
Contract admin$15K54.0%

% of EOY assets

0.763%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PKF O'CONNOR DAIVES LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,837

$44,714-19.9%

$91,225-60.7%

$66,938-46.5%

Participation rate

59.0%

65.0%-6.0pp

73.2%-14.2pp

69.8%-10.8pp

Annual return

-15.56%

-12.25%-3.3pp

114.12%-129.7pp

1.58%-17.1pp

Employer contribution / active EE

-$203

$1,710-111.9%

$2,851-107.1%

$2,545-108.0%

Participant deferral / active EE

$2,040

$3,355-39.2%

$4,233-51.8%

$4,238-51.9%

Admin fee / account holder

$273

$521-47.6%

$5,422-95.0%

$594-54.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$15,044

WELLS FARGO BANK, N.A.1 year

Filed as: WELLS FARGO CLEARING

Service code 27 · EIN 34-1542819

Advisory (Plan)

$12,833

FIRSTSTREET FOR BOOMERS AND BEYOND, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRSTSTREET FOR BOOMERS AND BEYOND, 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