Retirement plan

PREMIUM HARDWOODS, INC. 401K PLAN

Name: BC COMPANY, INC. DBA PREMIUM HARDWOODS, INC. - PREMIUM HARDWOODS, INC. 401K PLAN (2023) Form 5500
Creator: BC COMPANY, INC. DBA PREMIUM HARDWOODS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PREMIUM HARDWOODS, INC. 401K PLAN, BC COMPANY, INC. DBA PREMIUM HARDWOODS, INC.

BC COMPANY, INC. DBA PREMIUM HARDWOODS, INC.EIN 84-2569256Plan #001PY 2023

3025 LAPEER RD. - AUBURN HILLS, MI 483261935248-340-1882

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$870K

-39.9% from 2022

Total participants

-5.6% from 2022

Average account balance

$54,382

-32.3% from 2022

Annual return

11.30%

+25.68 pp from 2022

Benchmarks

See 51,594 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,594 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.03M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

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.

154.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$79K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1255

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$812K

$90217 / participant

Other / not subdivided$812K100.0%

% of EOY assets

93.316%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,382

$106,267-48.8%

$96,520-43.7%

$139,456-61.0%

Participation rate

88.9%

77.8%+11.0pp

74.3%+14.5pp

80.3%+8.6pp

Annual return

11.30%

38.45%-27.2pp

35.72%-24.4pp

373.45%-362.1pp

Employer contribution / active EE

$2,095

$4,105-49.0%

$3,739-44.0%

$4,753-55.9%

Participant deferral / active EE

$5,854

$5,454+7.3%

$4,879+20.0%

$6,711-12.8%

Admin fee / account holder

$50,747

$7,882+543.8%

$6,733+653.7%

$11,407+344.9%

PREMIUM HARDWOODS, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PREMIUM HARDWOODS, INC. 401K 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