Retirement plan

FARM SERVICE, INC. 401(K) PLAN - HOXIE/WALNUT RIDGE

Name: FARM SERVICE, INC. - FARM SERVICE, INC. 401(K) PLAN - HOXIE/WALNUT RIDGE (2023) Form 5500
Creator: FARM SERVICE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FARM SERVICE, INC. 401(K) PLAN - HOXIE/WALNUT RIDGE, FARM SERVICE, INC.

FARM SERVICE, INC.EIN 71-0390224Plan #001PY 2023

P.O. BOX 595 - WALNUT RIDGE, AR 72476870-886-7779fsicoop.comLinkedIn51-200 employeesautomotive

Other plans on this EIN

1 filing

#002Retirement-$2.2M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3.6M

+12.1% from 2022

Total participants

-2.9% from 2022

Average account balance

$65,031

+12.1% from 2022

Annual return

11.03%

+22.42 pp from 2022

Benchmarks

See 9,213 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,213 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.16M

Not enough data

1 years with asset history on file

Average account balance

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

$77K

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.

105.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$275K

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

+9.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2255

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

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$251K

$4744 / participant

Other / not subdivided$251K100.0%

% of EOY assets

6.905%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,031

$91,525-28.9%

$130,026-50.0%

$75,181-13.5%

Participation rate

81.1%

71.4%+9.7pp

78.5%+2.6pp

67.2%+13.9pp

Annual return

11.03%

-631.40%+642.4pp

-137.26%+148.3pp

160.69%-149.7pp

Employer contribution / active EE

$2,229

$2,844-21.6%

$4,321-48.4%

$2,671-16.5%

Participant deferral / active EE

$2,655

$4,342-38.8%

$5,821-54.4%

$4,126-35.6%

Admin fee / account holder

$4,490

$6,778-33.8%

$10,608-57.7%

$5,650-20.5%

FARM SERVICE, INC. 401(K) PLAN - HOXIE/WALNUT RIDGE

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FARM SERVICE, INC. 401(K) PLAN - HOXIE/WALNUT RIDGE

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