Retirement plan

PREFERRED COMPANIES 401(K) PLAN

Name: PREFERRED COMPANIES - PREFERRED COMPANIES 401(K) PLAN (2022) Form 5500
Creator: PREFERRED COMPANIES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PREFERRED COMPANIES 401(K) PLAN, PREFERRED COMPANIES

PREFERRED COMPANIESEIN 85-4220981Plan #001PY 2022

6673 PINE RIDGE COURT SW SUITE C - JENISON, MI 49428616-272-6334

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$614K

No prior year

Total participants

136

No prior year

Average account balance

$5,964

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 4,067 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,067 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.45M

Not enough data

1 years with asset history on file

Average account balance

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

$14K

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.

102

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.

64.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$379K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15

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
AMERICAN FUNDS1+ years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 15 · EIN 82-4555287	Recordkeeping	$1,945
EDWARD JONES1+ years Service code 17 6581 28TH AVENUE SUITE B · HUDSONVILLE, MI 49426	Pension Consulting	$1,423
EPIC RETIREMENT PLAN SERVICES1+ years Filed as: KDP RETIREMENT PLAN SERVICES INC Service code 10 3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512	Accounting	$975

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H

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.
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

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$2K

$13 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.256%

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: KAPTEIN, DYKSTRA & COMPANY, P.C.
Auditor EIN: 382939866
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$5,964

$65,453-90.9%

$86,691-93.1%

$66,930-91.1%

Participation rate

73.0%

75.5%-2.5pp

76.6%-3.6pp

69.8%+3.1pp

Annual return

0.00%

-10.89%+10.9pp

35.94%-35.9pp

1.57%-1.6pp

Employer contribution / active EE

$1,677

$2,154-22.1%

$2,837-40.9%

$2,545-34.1%

Participant deferral / active EE

$2,678

$4,102-34.7%

$4,656-42.5%

$4,238-36.8%

Admin fee / account holder

$15

$642-97.6%

$7,492-99.8%

$593-97.4%

Provider

Service type

Compensation

AMERICAN FUNDS1+ years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 15 · EIN 82-4555287

Recordkeeping

$1,945

EDWARD JONES1+ years

Service code 17

6581 28TH AVENUE SUITE B · HUDSONVILLE, MI 49426

Pension Consulting

$1,423

EPIC RETIREMENT PLAN SERVICES1+ years

Filed as: KDP RETIREMENT PLAN SERVICES INC

Service code 10

3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512

Accounting

$975

PREFERRED COMPANIES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PREFERRED COMPANIES 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