Retirement plan

QUALITY SELECT 401(K) PLAN

Name: QUALITY PORK PROCESSORS, INCORPORATED - QUALITY SELECT 401(K) PLAN (2020) Form 5500
Creator: QUALITY PORK PROCESSORS, INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, QUALITY SELECT 401(K) PLAN, QUALITY PORK PROCESSORS, INCORPORATED

QUALITY PORK PROCESSORS, INCORPORATEDEIN 75-2199109Plan #002PY 2020

15950 N. DALLAS PARKWAY, STE 600 - DALLAS, TX 75248972-590-5236

Prospect flagsLow returnsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$19.6M

+13.1% from 2019

Total participants

1,666

+7.8% from 2019

Average account balance

$37,262

+10.7% from 2019

Annual return

11.90%

-5.18 pp from 2019

Benchmarks

See 74 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants1,000-4,999

Cohort74 peers

Snapshot2020

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$28.01M

Not enough data

1 years with asset history on file

Average account balance

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

$29K

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.

950

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.

48.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+13.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$38

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
GREAT-WEST LIFE & ANNUITY INSURANCE6+ years Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$33,123
ARMANINO LLP4 years Filed as: ARMANINO, LLP Service code 13 · EIN 94-6214841	Contract Administrator	$30,123
CETERA ADVISOR NETWORKS LLC6+ years Filed as: CETERA ADVISOR NETWORKS, LLC Service code 55 200 N SEPULVEDA BLVD · EL SEGUNDO, CA 902455670	Other Commissions	$22,875
GREAT-WEST LIFE & ANNUITY INSURANCE6+ years Filed as: ADVISED ASSET GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$6,636
LEAFHOUSE FINANCIAL ADVISORS, LLC2 years Service code 27 6504 BRIDGE POINT PARKWAY, SUITE 45 · AUSTIN, TX 78730	Advisory (Plan)	$6,627

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$54K

$34 / participant

Other / not subdivided$54K100.0%

% of EOY assets

0.273%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: HOWARD, LLC
Auditor EIN: 202257536
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,262

$41,774-10.8%

$118,925-68.7%

$90,288-58.7%

Participation rate

26.9%

55.0%-28.1pp

75.4%-48.5pp

73.4%-46.4pp

Annual return

11.90%

16.64%-4.7pp

35.88%-24.0pp

53.97%-42.1pp

Employer contribution / active EE

$391

$986-60.4%

$3,263-88.0%

$2,524-84.5%

Participant deferral / active EE

$794

$1,683-52.8%

$4,265-81.4%

$4,232-81.2%

Admin fee / account holder

$102

$85+20.3%

$6,581-98.5%

$114-10.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE6+ years

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$33,123

ARMANINO LLP4 years

Filed as: ARMANINO, LLP

Service code 13 · EIN 94-6214841

Contract Administrator

$30,123

CETERA ADVISOR NETWORKS LLC6+ years

Filed as: CETERA ADVISOR NETWORKS, LLC

Service code 55

200 N SEPULVEDA BLVD · EL SEGUNDO, CA 902455670

Other Commissions

$22,875

GREAT-WEST LIFE & ANNUITY INSURANCE6+ years

Filed as: ADVISED ASSET GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$6,636

LEAFHOUSE FINANCIAL ADVISORS, LLC2 years

Service code 27

6504 BRIDGE POINT PARKWAY, SUITE 45 · AUSTIN, TX 78730

Advisory (Plan)

$6,627

QUALITY SELECT 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

QUALITY SELECT 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