Retirement plan

AUTOTEC 401(K) PLAN

Name: WOODCREST SERVICES, INC. - AUTOTEC 401(K) PLAN (2022) Form 5500
Creator: WOODCREST SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AUTOTEC 401(K) PLAN, WOODCREST SERVICES, INC.

WOODCREST SERVICES, INC.EIN 63-1086962Plan #001PY 2022

2200 WOODCREST PLACE, SUITE 200 - BIRMINGHAM, AL 35209205-414-7063

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$19M

-5.8% from 2021

Total participants

146

+2.8% from 2021

Average account balance

$154,696

-6.5% from 2021

Annual return

-7.22%

-47.12 pp from 2021

Benchmarks

See 2,163 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,163 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.47M

Not enough data

1 years with asset history on file

Average account balance

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

$173K

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.

136

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.

86.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.10M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$494

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 5 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH3 years Filed as: MERRILL LYNCH Service code 17 · EIN 13-5674085	Pension Consulting	$41,020
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$19,667
ORENDA RETIREMENT, LLC3 years Service code 13	Contract Administrator	$9,435
ORENDA RETIREMENT, LLC3 years Filed as: ORENDA RETIREMENT LLC Service code 13 · EIN 36-4877979	Contract Administrator	$1,725
MERRILL LYNCH PIERCE FENNER & SMITH4 years Service code 17	Pension Consulting	$22

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H

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.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$62K

$534 / participant

Investment mgmt$21K32.9%
Contract admin$21K34.3%
Other / not subdivided$21K32.9%

% of EOY assets

0.328%

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: DENT MOSES LLP
Auditor EIN: 630352192
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$154,696

$102,661+50.7%

$151,628+2.0%

$66,930+131.1%

Participation rate

80.3%

85.5%-5.2pp

87.5%-7.2pp

69.8%+10.5pp

Annual return

-7.22%

-10.81%+3.6pp

3.34%-10.6pp

1.57%-8.8pp

Employer contribution / active EE

$3,738

$4,184-10.7%

$6,165-39.4%

$2,545+46.9%

Participant deferral / active EE

$4,176

$6,645-37.2%

$8,363-50.1%

$4,238-1.5%

Admin fee / account holder

$508

$630-19.5%

$11,613-95.6%

$593-14.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Filed as: MERRILL LYNCH

Service code 17 · EIN 13-5674085

Pension Consulting

$41,020

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$19,667

ORENDA RETIREMENT, LLC3 years

Service code 13

Contract Administrator

$9,435

ORENDA RETIREMENT, LLC3 years

Filed as: ORENDA RETIREMENT LLC

Service code 13 · EIN 36-4877979

Contract Administrator

$1,725

MERRILL LYNCH PIERCE FENNER & SMITH4 years

Service code 17

Pension Consulting

$22

AUTOTEC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AUTOTEC 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