Retirement plan

MCGINNIS, LOCHRIDGE & KILGORE LLP SAVINGS PLUS PLAN

Name: MCGINNIS, LOCHRIDGE & KILGORE, LLP - MCGINNIS, LOCHRIDGE & KILGORE LLP SAVINGS PLUS PLAN (2017) Form 5500
Creator: MCGINNIS, LOCHRIDGE & KILGORE, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCGINNIS, LOCHRIDGE & KILGORE LLP SAVINGS PLUS PLAN, MCGINNIS, LOCHRIDGE & KILGORE, LLP

MCGINNIS, LOCHRIDGE & KILGORE, LLPEIN 74-1196349Plan #002PY 2017

600 CONGRESS AVENUE, SUITE 2100 - AUSTIN, TX 78701512-495-6000mcginnislaw.comLinkedIn51-200 employeeslaw practice

Prospect flagsLow returnsHigh feesHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$54.4M

+4.5% from 2016

Total participants

150

-2.0% from 2016

Average account balance

$369,783

+5.9% from 2016

Annual return

13.82%

+8.09 pp from 2016

Benchmarks

See 25,068 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort25,068 peers

Snapshot2017

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$64.58M

Not enough data

1 years with asset history on file

Average account balance

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

$342K

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.

189

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.

94.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.62M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$26K

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

+12.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$783

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.1 year Filed as: SCHWAB RETIREMENT PLAN SERVICES, IN Service code 15 · EIN 34-1479833	Recordkeeping	$59,515
TERRY MCDANIEL & COMPANY2 years Service code 26 · EIN 74-2362799	Advisory (Participants)	$20,112
GLASS & COMPANY, CPAS2 years Service code 10 · EIN 74-2587727	Accounting	$11,700
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO INC Service code 33 · EIN 94-1737782	Securities brokerage commissions and ...	$1,228
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO INC & AFFILIATE Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2R2S2T3B

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.

Opportunity flags

4 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$91K

$982 / participant

Investment mgmt$20K22.0%
Other / not subdivided$71K78.0%

% of EOY assets

0.168%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: GLASS & COMPANY, CPAS
Auditor EIN: 742587727
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$369,783

$85,766+331.2%

$136,294+171.3%

$70,131+427.3%

Participation rate

96.8%

74.2%+22.6pp

81.9%+14.9pp

69.5%+27.2pp

Annual return

13.82%

31.45%-17.6pp

5155.94%-5142.1pp

73.14%-59.3pp

Employer contribution / active EE

$13,638

$2,966+359.8%

$4,695+190.4%

$2,342+482.2%

Participant deferral / active EE

$10,213

$5,051+102.2%

$6,247+63.5%

$3,332+206.5%

Admin fee / account holder

$621

$5,420-88.5%

$9,243-93.3%

$4,645-86.6%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.1 year

Filed as: SCHWAB RETIREMENT PLAN SERVICES, IN

Service code 15 · EIN 34-1479833

Recordkeeping

$59,515

TERRY MCDANIEL & COMPANY2 years

Service code 26 · EIN 74-2362799

Advisory (Participants)

$20,112

GLASS & COMPANY, CPAS2 years

Service code 10 · EIN 74-2587727

Accounting

$11,700

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO INC

Service code 33 · EIN 94-1737782

Securities brokerage commissions and ...

$1,228

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO INC & AFFILIATE

Service code 59

Shareholder Servicing

MCGINNIS, LOCHRIDGE & KILGORE LLP SAVINGS PLUS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCGINNIS, LOCHRIDGE & KILGORE LLP SAVINGS PLUS 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