Retirement plan

PRIMARY RESIDENTIAL MORTGAGE, INC. 401(K) PLAN

Name: PRIMARY RESIDENTIAL MORTGAGE, INC. - PRIMARY RESIDENTIAL MORTGAGE, INC. 401(K) PLAN (2016) Form 5500
Creator: PRIMARY RESIDENTIAL MORTGAGE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRIMARY RESIDENTIAL MORTGAGE, INC. 401(K) PLAN, PRIMARY RESIDENTIAL MORTGAGE, INC.

PRIMARY RESIDENTIAL MORTGAGE, INC.EIN 86-0860478Plan #001PY 2016

1480 NORTH 2200 WEST - SALT LAKE CITY, UT 84116435-463-2400primeres.comLinkedIn1001-5000 employeesfinancial services

Prospect flagsLow returnsHigh cashLow participationLow assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$41.8M

+15.1% from 2015

Total participants

3,760

-13.7% from 2015

Average account balance

$13,622

+52.2% from 2015

Annual return

4.52%

+3.18 pp from 2015

Benchmarks

See 142 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants1,000-4,999

Cohort142 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$81.73M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

1,634

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.

95.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+8.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$287

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
EQUITY SERVICES INC2+ years Filed as: EQUITY TRUST COMPANY Service code 19 1 EQUITY WAY · WESTLAKE, OH 44145	Securities Custodian	$277,550
RH BUCHANAN2+ years Service code 27 3333 PIEDMONT RD · ATLANTA, GA 30305	Advisory (Plan)	$85,155
STAYNER BATES P.C.2+ years Filed as: STAYNER, BATES & JENSEN, P.C. Service code 10 · EIN 87-0495153	Accounting	$20,000

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$494K

$290 / participant

Other / not subdivided$494K100.0%

% of EOY assets

1.182%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: STAYNER BATES P.C.
Auditor EIN: 870495153
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,622

$107,045-87.3%

$108,745-87.5%

$63,975-78.7%

Participation rate

59.3%

81.9%-22.6pp

77.7%-18.4pp

71.1%-11.8pp

Annual return

4.52%

18.14%-13.6pp

46.22%-41.7pp

48.65%-44.1pp

Employer contribution / active EE

$849

$2,651-68.0%

$3,323-74.4%

$2,182-61.1%

Participant deferral / active EE

$3,669

$4,292-14.5%

$5,121-28.4%

$3,356+9.3%

Admin fee / account holder

$161

$67+139.7%

$6,144-97.4%

$70+128.6%

Provider

Service type

Compensation

EQUITY SERVICES INC2+ years

Filed as: EQUITY TRUST COMPANY

Service code 19

1 EQUITY WAY · WESTLAKE, OH 44145

Securities Custodian

$277,550

RH BUCHANAN2+ years

Service code 27

3333 PIEDMONT RD · ATLANTA, GA 30305

Advisory (Plan)

$85,155

STAYNER BATES P.C.2+ years

Filed as: STAYNER, BATES & JENSEN, P.C.

Service code 10 · EIN 87-0495153

Accounting

$20,000

PRIMARY RESIDENTIAL MORTGAGE, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRIMARY RESIDENTIAL MORTGAGE, 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