Retirement plan

FLEMING ELECTRIC, INC. 401(K) PROFIT SHARING PLAN

Name: FLEMING ELECTRIC, INC. - FLEMING ELECTRIC, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: FLEMING ELECTRIC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FLEMING ELECTRIC, INC. 401(K) PROFIT SHARING PLAN, FLEMING ELECTRIC, INC.

FLEMING ELECTRIC, INC.EIN 71-0507441Plan #001PY 2024

320 MCCLANAHAN - BRYANT, AR 72022501-847-3090fleminc.comLinkedIn201-500 employeesconstruction

Prospect flagsLow returnsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$5.3M

+15.1% from 2023

Total participants

188

-8.3% from 2023

Average account balance

$29,985

+22.9% from 2023

Annual return

10.77%

-6.80 pp from 2023

Benchmarks

See 3,444 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,444 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.31M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

177

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.

92.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$650K

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

+10.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$335

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 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$26,212
HCJ CPAS & ADVISORS PLLC3 years Service code 10 11025 ANDERSON DR STE 300 · LITTLE ROCK, AR 72212	Accounting	$16,340
ARVEST ASSET MANAGEMENT5 years Service code 27 PO BOX 1515 · LOWELL, AR 72745	Advisory (Plan)	$9,849
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$2,845
ARVEST ASSET MANAGEMENT1 year Filed as: ARVEST BANK Service code 27 800 N OSAGE AVE · BARTLESVILLE, OK 74029	Advisory (Plan)	$2,084
ERISA FIDUCIARY SERVICES, INC.4 years Filed as: ERISA FIDUCIARY SERVICES INC Service code 99 1800 WALT WHITMAN RD STE 110 · MELVILLE, NY 11747	Other Fees	$2,000

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3B3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$59K

$424 / participant

Recordkeeping$26K44.2%
Investment mgmt$15K24.9%
Other / not subdivided$18K30.9%

% of EOY assets

1.118%

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: HCJ CPAS & ADVISORS
Auditor EIN: 710650689
Audit fees: $16,340
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,985

$80,781-62.9%

$102,437-70.7%

$74,478-59.7%

Participation rate

92.1%

65.7%+26.5pp

74.5%+17.6pp

67.2%+24.9pp

Annual return

10.77%

27.58%-16.8pp

24.95%-14.2pp

1370.56%-1359.8pp

Employer contribution / active EE

$565

$3,160-82.1%

$3,871-85.4%

$2,626-78.5%

Participant deferral / active EE

$4,075

$3,862+5.5%

$5,060-19.5%

$4,350-6.3%

Admin fee / account holder

$335

$2,372-85.9%

$8,388-96.0%

$1,946-82.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$26,212

HCJ CPAS & ADVISORS PLLC3 years

Service code 10

11025 ANDERSON DR STE 300 · LITTLE ROCK, AR 72212

Accounting

$16,340

ARVEST ASSET MANAGEMENT5 years

Service code 27

PO BOX 1515 · LOWELL, AR 72745

Advisory (Plan)

$9,849

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$2,845

ARVEST ASSET MANAGEMENT1 year

Filed as: ARVEST BANK

Service code 27

800 N OSAGE AVE · BARTLESVILLE, OK 74029

Advisory (Plan)

$2,084

ERISA FIDUCIARY SERVICES, INC.4 years

Filed as: ERISA FIDUCIARY SERVICES INC

Service code 99

1800 WALT WHITMAN RD STE 110 · MELVILLE, NY 11747

Other Fees

$2,000

FLEMING ELECTRIC, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FLEMING ELECTRIC, INC. 401(K) 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