Retirement plan

PETERSON BROTHERS RETIREMENT PLAN

Name: VERT MARKETS, INC. - PETERSON BROTHERS RETIREMENT PLAN (2022) Form 5500
Creator: VERT MARKETS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PETERSON BROTHERS RETIREMENT PLAN, VERT MARKETS, INC.

VERT MARKETS, INC.EIN 82-0548255Plan #001PY 2022

5340 FRYLING ROAD, SUITE 300 - ERIE, PA 16510814-897-9000

Prospect flagsHigh feesHigh cashHigh assets / participant

How to read this page

Total assets (EOY)

$34.8M

-14.2% from 2021

Total participants

147

+3.5% from 2021

Average account balance

$262,029

-17.4% from 2021

Annual return

-16.24%

-32.95 pp from 2021

Benchmarks

See 1,030 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants100-249

Cohort1,030 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$45.73M

Not enough data

1 years with asset history on file

Average account balance

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

$336K

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.

136

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.

98.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.94M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+13.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$625

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
NORTHWEST BANK6+ years Service code 21 · EIN 23-2790930 800 STATE ST 5TH FLOOR · ERIE, PA 16501	Bank Trustee	$33,228
DEFINITI LLC2 years Filed as: DEFINITI Service code 15 · EIN 85-0833363 3 HOLLAND ST · ERIE, PA 16507	Recordkeeping	$28,335
SCHAFFNER, KNIGHT, MINNAUGH & CO6+ years Filed as: SCHAFFNER, KNIGHT, MINNAUGH & CO PC Service code 10 · EIN 25-1690617 1545 WEST 38TH ST · ERIE, PA 16508	Accounting	$7,900

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$86K

$744 / participant

Other / not subdivided$86K100.0%

% of EOY assets

0.248%

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: SCHAFFNER KNIGHT MINNAUGH & CO PC
Auditor EIN: 251690617
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$262,029

$58,320+349.3%

$86,451+203.1%

$66,949+291.4%

Participation rate

87.9%

78.6%+9.3pp

80.3%+7.6pp

69.8%+18.1pp

Annual return

-16.24%

-9.71%-6.5pp

4398.51%-4414.8pp

1.57%-17.8pp

Employer contribution / active EE

$6,714

$2,615+156.7%

$3,770+78.1%

$2,545+163.8%

Participant deferral / active EE

$9,895

$6,899+43.4%

$6,953+42.3%

$4,239+133.4%

Admin fee / account holder

$649

$546+19.0%

$6,734-90.4%

$594+9.4%

Provider

Service type

Compensation

NORTHWEST BANK6+ years

Service code 21 · EIN 23-2790930

800 STATE ST 5TH FLOOR · ERIE, PA 16501

Bank Trustee

$33,228

DEFINITI LLC2 years

Filed as: DEFINITI

Service code 15 · EIN 85-0833363

3 HOLLAND ST · ERIE, PA 16507

Recordkeeping

$28,335

SCHAFFNER, KNIGHT, MINNAUGH & CO6+ years

Filed as: SCHAFFNER, KNIGHT, MINNAUGH & CO PC

Service code 10 · EIN 25-1690617

1545 WEST 38TH ST · ERIE, PA 16508

Accounting

$7,900

PETERSON BROTHERS RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PETERSON BROTHERS RETIREMENT 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