Retirement plan

SELECT MILK PRODUCERS, INC. 401(K) PLAN

Name: SELECT MILK PRODUCERS, INC. - SELECT MILK PRODUCERS, INC. 401(K) PLAN (2024) Form 5500
Creator: SELECT MILK PRODUCERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SELECT MILK PRODUCERS, INC. 401(K) PLAN, SELECT MILK PRODUCERS, INC.

SELECT MILK PRODUCERS, INC.EIN 85-0425525Plan #001PY 2024

5151 BELT LINE SUITE 455 - DALLAS, TX 75254214-568-9000selectmilk.comLinkedIn201-500 employeesdairy

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$36.3M

+22.4% from 2023

Total participants

1,317

+39.2% from 2023

Average account balance

$31,997

-4.4% from 2023

Annual return

14.46%

-24.77 pp from 2023

Benchmarks

See 79 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants1,000-4,999

Cohort79 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$36.32M

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

1,135

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.

84.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.32M

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

+14.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$160

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
MERCER2 years Filed as: MERCER (US) INC MERCER INVESTMENTS Service code 16 21875 NETWORK PLACE · CHICAGO, IL 60673	Consulting	$113,269
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$60,705
CLIFTONLARSONALLEN LLP1 year Filed as: CLIFTON LARSONALLEN, LLP Service code 10 P.O. BOX 829709 · PHILADELPHIA, PA 19182	Accounting	$4,900
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$2,632

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3F

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$182K

$160 / participant

Recordkeeping$61K33.4%
Investment mgmt$3K1.5%
Other / not subdivided$118K65.1%

% of EOY assets

0.500%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CLIFTON LARSON ALLEN
Auditor EIN: 410746749
Audit fees: $4,900
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,997

$55,347-42.2%

$120,368-73.4%

$199,768-84.0%

Participation rate

84.0%

52.9%+31.1pp

71.9%+12.0pp

72.0%+11.9pp

Annual return

14.46%

15.37%-0.9pp

107.26%-92.8pp

34.26%-19.8pp

Employer contribution / active EE

$2,819

$1,296+117.6%

$3,465-18.6%

$3,037-7.2%

Participant deferral / active EE

$3,639

$2,350+54.8%

$4,991-27.1%

$5,090-28.5%

Admin fee / account holder

$160

$134+19.2%

$9,429-98.3%

$269-40.5%

Provider

Service type

Compensation

MERCER2 years

Filed as: MERCER (US) INC MERCER INVESTMENTS

Service code 16

21875 NETWORK PLACE · CHICAGO, IL 60673

Consulting

$113,269

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$60,705

CLIFTONLARSONALLEN LLP1 year

Filed as: CLIFTON LARSONALLEN, LLP

Service code 10

P.O. BOX 829709 · PHILADELPHIA, PA 19182

Accounting

$4,900

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$2,632

SELECT MILK PRODUCERS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SELECT MILK PRODUCERS, INC. 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