Retirement plan

BIC ALLIANCE, INC. SIMPLE 401(K) PLAN

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

BIC ALLIANCE, INC.EIN 72-1218635Plan #001PY 2022

PO BOX 40166 - BATON ROUGE, LA 708350166225-751-9996bicalliance.comLinkedIn11-50 employeesoil & energy

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

-36.0% from 2021

Total participants

-12.1% from 2021

Average account balance

$91,261

-22.1% from 2021

Annual return

-15.64%

-29.72 pp from 2021

Benchmarks

See 10,386 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants<25

Cohort10,386 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.36M

Not enough data

1 years with asset history on file

Average account balance

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

$146K

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.

109.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$194K

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

+11.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3106

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 codes2E2F2G2J2T3D

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$845K

$38422 / participant

Other / not subdivided$845K100.0%

% of EOY assets

40.271%

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

$91,261

$99,647-8.4%

$86,439+5.6%

$134,509-32.2%

Participation rate

72.7%

82.1%-9.3pp

80.3%-7.6pp

81.2%-8.5pp

Annual return

-15.64%

6784.13%-6799.8pp

4395.55%-4411.2pp

418.13%-433.8pp

Employer contribution / active EE

$2,475

$4,401-43.8%

$3,769-34.3%

$4,741-47.8%

Participant deferral / active EE

$5,500

$7,246-24.1%

$6,952-20.9%

$6,400-14.1%

Admin fee / account holder

$36,752

$8,373+338.9%

$6,732+445.9%

$11,427+221.6%

BIC ALLIANCE, INC. SIMPLE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BIC ALLIANCE, INC. SIMPLE 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