Retirement plan

PAYSON FRUIT GROWERS 401(K) PROFIT SHARING PLAN

Name: PAYSON FRUIT GROWERS ASSOCIATION - PAYSON FRUIT GROWERS 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: PAYSON FRUIT GROWERS ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PAYSON FRUIT GROWERS 401(K) PROFIT SHARING PLAN, PAYSON FRUIT GROWERS ASSOCIATION

PAYSON FRUIT GROWERS ASSOCIATIONEIN 87-0265523Plan #002PY 2024

1201 WEST 800 SOUTH - PAYSON, UT 846512631801-465-9242paysonfruitgrowers.comLinkedIn11-50 employeesfood production

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.1M

+8.9% from 2023

Total participants

-29.8% from 2023

Average account balance

$37,985

+57.3% from 2023

Annual return

9.51%

-3.06 pp from 2023

Benchmarks

See 2,341 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants25-99

Cohort2,341 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.08M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

90.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$341K

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

+9.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$482

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 4 by compensation

Provider	Service type	Compensation
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Filed as: ONEDIGITAL INVESTMENT ADVISORS Service code 27 · EIN 43-1451524	Advisory (Plan)	$18,594
TRANSAMERICA RETIREMENT SOLUTIONS4 years Filed as: TRANSAMERICA FINANCIAL LIFE INS. Service code 15 · EIN 36-6071399	Recordkeeping	$14,336
DWC - THE 401(K) EXPERTS2 years Service code 15 · EIN 26-2091417	Recordkeeping	$5,630
GLOBAL RETIREMENT PARTNERS LLC3 years Service code 27 · EIN 47-1411118	Advisory (Plan)	$501

Plan features & details

Pension benefit codes2E2J2K2G2F3D2T

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.
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.

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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$39K

$601 / participant

Contract admin$39K100.0%

% of EOY assets

1.270%

all-in expense ratio

Categories reported

1 / 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: GILBERT & STEWART
Auditor EIN: 874033149
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,985

$68,586-44.6%

$120,380-68.4%

$80,911-53.1%

Participation rate

90.8%

61.6%+29.2pp

71.9%+18.9pp

67.6%+23.1pp

Annual return

9.51%

23.62%-14.1pp

107.28%-97.8pp

35.63%-26.1pp

Employer contribution / active EE

$2,518

$2,053+22.7%

$3,465-27.3%

$2,756-8.6%

Participant deferral / active EE

$2,722

$3,174-14.3%

$4,992-45.5%

$4,297-36.7%

Admin fee / account holder

$482

$5,733-91.6%

$9,421-94.9%

$6,935-93.0%

Provider

Service type

Compensation

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Filed as: ONEDIGITAL INVESTMENT ADVISORS

Service code 27 · EIN 43-1451524

Advisory (Plan)

$18,594

TRANSAMERICA RETIREMENT SOLUTIONS4 years

Filed as: TRANSAMERICA FINANCIAL LIFE INS.

Service code 15 · EIN 36-6071399

Recordkeeping

$14,336

DWC - THE 401(K) EXPERTS2 years

Service code 15 · EIN 26-2091417

Recordkeeping

$5,630

GLOBAL RETIREMENT PARTNERS LLC3 years

Service code 27 · EIN 47-1411118

Advisory (Plan)

$501

PAYSON FRUIT GROWERS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PAYSON FRUIT GROWERS 401(K) PROFIT SHARING 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