Retirement plan

PETRA INCORPORATED 401(K) P/S PLAN

Name: PETRA INCORPORATED - PETRA INCORPORATED 401(K) P/S PLAN (2024) Form 5500
Creator: PETRA INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PETRA INCORPORATED 401(K) P/S PLAN, PETRA INCORPORATED

PETRA INCORPORATEDEIN 82-0475734Plan #001PY 2024

2760 W EXCURSION LN, SUITE 310 - MERIDIAN, ID 83642208-323-4500petrainc.netLinkedIn51-200 employeesconstruction

Prospect flagsHigh feesLow participationLow fidelity bondFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$4.4M

+19.7% from 2023

Total participants

180

-22.7% from 2023

Average account balance

$33,530

+47.3% from 2023

Annual return

17.28%

-0.73 pp from 2023

Benchmarks

See 3,445 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,445 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.36M

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

130

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.

58.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$759K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+17.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$396

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 3 by compensation

Provider	Service type	Compensation
MERIT FINANCIAL GROUP, LLC1 year Service code 26 · EIN 45-3686413 2400 LAKEVIEW PARKWAY · ALPHARETTA, GA 30009	Advisory (Participants)	$17,460
JOHN HANCOCK LIFE INSURANCE COMPANY5 years Service code 15 · EIN 01-0233346 PO BOX 600 · BUFFALO, NY 142010600	Recordkeeping	$4,503
LPL FINANCIAL4 years Filed as: LPL FINANCIAL LLC Service code 26 · EIN 04-3046611 RPCP COMPENSATION PR · BOISE, ID 83702	Advisory (Participants)	$3,100

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H2T

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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
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

$51K

$425 / participant

Contract admin$51K100.0%

% of EOY assets

1.180%

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: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,530

$80,763-58.5%

$102,412-67.3%

$74,459-55.0%

Participation rate

58.7%

65.7%-7.0pp

74.5%-15.8pp

67.2%-8.5pp

Annual return

17.28%

27.57%-10.3pp

24.94%-7.7pp

1369.70%-1352.4pp

Employer contribution / active EE

$1,256

$3,160-60.2%

$3,870-67.5%

$2,626-52.2%

Participant deferral / active EE

$5,013

$3,862+29.8%

$5,060-0.9%

$4,350+15.2%

Admin fee / account holder

$396

$2,371-83.3%

$8,388-95.3%

$1,945-79.7%

Provider

Service type

Compensation

MERIT FINANCIAL GROUP, LLC1 year

Service code 26 · EIN 45-3686413

2400 LAKEVIEW PARKWAY · ALPHARETTA, GA 30009

Advisory (Participants)

$17,460

JOHN HANCOCK LIFE INSURANCE COMPANY5 years

Service code 15 · EIN 01-0233346

PO BOX 600 · BUFFALO, NY 142010600

Recordkeeping

$4,503

LPL FINANCIAL4 years

Filed as: LPL FINANCIAL LLC

Service code 26 · EIN 04-3046611

RPCP COMPENSATION PR · BOISE, ID 83702

Advisory (Participants)

$3,100

PETRA INCORPORATED 401(K) P/S PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PETRA INCORPORATED 401(K) P/S 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