Retirement plan

EVERETT FINANCIAL, INC. DBA SUPREME LENDING 401(K) PLAN

Name: EVERETT FINANCIAL, INC. DBA SUPREME LENDING - EVERETT FINANCIAL, INC. DBA SUPREME LENDING 401(K) PLAN (2023) Form 5500
Creator: EVERETT FINANCIAL, INC. DBA SUPREME LENDING
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EVERETT FINANCIAL, INC. DBA SUPREME LENDING 401(K) PLAN, EVERETT FINANCIAL, INC. DBA SUPREME LENDING

EVERETT FINANCIAL, INC. DBA SUPREME LENDINGEIN 75-2695327Plan #001PY 2023

14801 QUORUM DRIVE, SUITE 300 - DALLAS, TX 752541422972-447-5647LinkedIn1001-5000 employeesbanking

Prospect flagsLow participationLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$56.9M

+2.2% from 2022

Total participants

1,690

-25.7% from 2022

Average account balance

$52,704

+26.1% from 2022

Annual return

19.45%

+33.94 pp from 2022

Benchmarks

See 577 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort577 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$61.59M

Not enough data

1 years with asset history on file

Average account balance

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

$64K

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.

967

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.

47.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+21.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$293

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 2 by compensation

Provider	Service type	Compensation
ARMANINO LLP7 years Service code 15 · EIN 94-6214841	Recordkeeping	$40,725
JOHN HANCOCK LIFE INSURANCE COMPANY6 years Filed as: JOHN HANCOCK LIFE INS CO USA Service code 15 · EIN 01-0233346	Recordkeeping	$24,522

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$291K

$237 / participant

Contract admin$291K100.0%

% of EOY assets

0.512%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RICHEY MAY & CO., LLP
Auditor EIN: 710911208
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,704

$112,686-53.2%

$170,043-69.0%

$80,157-34.2%

Participation rate

50.4%

87.4%-37.0pp

87.0%-36.6pp

72.9%-22.5pp

Annual return

19.45%

67.04%-47.6pp

53.40%-34.0pp

40.39%-20.9pp

Employer contribution / active EE

$4,481-100.0%

$6,790-100.0%

$2,977-100.0%

Participant deferral / active EE

$4,548

$7,876-42.3%

$10,410-56.3%

$5,015-9.3%

Admin fee / account holder

$270

$99+172.5%

$12,824-97.9%

$145+86.3%

Provider

Service type

Compensation

ARMANINO LLP7 years

Service code 15 · EIN 94-6214841

Recordkeeping

$40,725

JOHN HANCOCK LIFE INSURANCE COMPANY6 years

Filed as: JOHN HANCOCK LIFE INS CO USA

Service code 15 · EIN 01-0233346

Recordkeeping

$24,522

EVERETT FINANCIAL, INC. DBA SUPREME LENDING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EVERETT FINANCIAL, INC. DBA SUPREME LENDING 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