Retirement plan

SPENCE ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & TRUST

Name: SPENCE ASSET MANAGEMENT, INC. - SPENCE ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & TRUST (2022) Form 5500
Creator: SPENCE ASSET MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPENCE ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & TRUST, SPENCE ASSET MANAGEMENT, INC.

SPENCE ASSET MANAGEMENT, INC.EIN 85-0408533Plan #001PY 2022

3529 FOOTHILLS ROAD - LAS CRUCES, NM 88011575-556-8500spenceassetmanagement.comLinkedIn11-50 employeesinvestment management

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$4M

-45.7% from 2021

Total participants

+37.5% from 2021

Average account balance

$365,077

-60.5% from 2021

Annual return

-28.20%

-46.38 pp from 2021

Benchmarks

See 35,220 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,220 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.44M

Not enough data

1 years with asset history on file

Average account balance

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

$644K

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.

111.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$273K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$30K

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

+15.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3110

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 codes2E2G2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$1.5M

$168082 / participant

Other / not subdivided$2M100.0%

% of EOY assets

37.669%

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

$365,077

$167,504+118.0%

$151,628+140.8%

$134,509+171.4%

Participation rate

100.0%

88.4%+11.6pp

87.5%+12.5pp

81.2%+18.8pp

Annual return

-28.20%

7.81%-36.0pp

3.34%-31.5pp

418.13%-446.3pp

Employer contribution / active EE

$8,984

$6,828+31.6%

$6,165+45.7%

$4,741+89.5%

Participant deferral / active EE

$14,844

$8,985+65.2%

$8,363+77.5%

$6,400+131.9%

Admin fee / account holder

$137,522

$13,779+898.1%

$11,613+1084.2%

$11,427+1103.5%

SPENCE ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPENCE ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & TRUST

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