Retirement plan

QUALITY SELECT 401(K) PLAN

Name: QUALITY PORK PROCESSORS, INCORPORATED - QUALITY SELECT 401(K) PLAN (2022) 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 2022

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

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$20.3M

-12.0% from 2021

Total participants

1,489

-0.2% from 2021

Average account balance

$26,574

-21.5% from 2021

Annual return

-12.46%

-24.57 pp from 2021

Benchmarks

See 76 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants1,000-4,999

Cohort76 peers

Snapshot2022

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

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

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 CO Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$47,044
ARMANINO LLP6 years Filed as: ARMANINO, LLP Service code 13 · EIN 94-6214841	Contract Administrator	$44,543
HARBOUR INVESTMENTS INC1 year Filed as: HARBOUR INVESTMENTS, INC. Service code 55 575 DONOFRIO DR., STE 300 · MADISON, WI 537192832	Other Commissions	$20,721
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$13,696
LEAFHOUSE FINANCIAL ADVISORS, LLC4 years Service code 27 6504 BRIDGE POINT PARKWAY, SUITE 45 · AUSTIN, TX 78730	Advisory (Plan)	$7,902
CETERA ADVISOR NETWORKS LLC8+ years Filed as: CETERA ADVISOR NETWORKS, LLC Service code 55 200 N SEPULVEDA BLVD · EL SEGUNDO, CA 902455670	Other Commissions	$7,392

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$74K

$55 / participant

Other / not subdivided$74K100.0%

% of EOY assets

0.365%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: TJ ADVISORS, LLC
Auditor EIN: 814325266
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,574

$42,419-37.4%

$104,299-74.5%

$77,906-65.9%

Participation rate

46.5%

51.6%-5.0pp

73.3%-26.7pp

73.7%-27.2pp

Annual return

-12.46%

-11.16%-1.3pp

24.62%-37.1pp

12.16%-24.6pp

Employer contribution / active EE

$761

$1,105-31.1%

$3,373-77.4%

$2,846-73.3%

Participant deferral / active EE

$1,257

$1,992-36.9%

$4,626-72.8%

$4,805-73.8%

Admin fee / account holder

$97

$117-17.4%

$7,339-98.7%

$133-26.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE CO

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$47,044

ARMANINO LLP6 years

Filed as: ARMANINO, LLP

Service code 13 · EIN 94-6214841

Contract Administrator

$44,543

HARBOUR INVESTMENTS INC1 year

Filed as: HARBOUR INVESTMENTS, INC.

Service code 55

575 DONOFRIO DR., STE 300 · MADISON, WI 537192832

Other Commissions

$20,721

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$13,696

LEAFHOUSE FINANCIAL ADVISORS, LLC4 years

Service code 27

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

Advisory (Plan)

$7,902

CETERA ADVISOR NETWORKS LLC8+ years

Filed as: CETERA ADVISOR NETWORKS, LLC

Service code 55

200 N SEPULVEDA BLVD · EL SEGUNDO, CA 902455670

Other Commissions

$7,392

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