Retirement plan

FIRST COLONY MORTGAGE CORP. PROFIT SHARING PLAN

Name: FIRST COLONY MORTGAGE CORP. - FIRST COLONY MORTGAGE CORP. PROFIT SHARING PLAN (2019) Form 5500
Creator: FIRST COLONY MORTGAGE CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST COLONY MORTGAGE CORP. PROFIT SHARING PLAN, FIRST COLONY MORTGAGE CORP.

FIRST COLONY MORTGAGE CORP.EIN 87-0415314Plan #001PY 2019

508 WEST 800 NORTH - OREM, UT 84057801-226-7456firstcolonymortgage.comLinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$10.8M

+33.4% from 2018

Total participants

198

+24.5% from 2018

Average account balance

$60,858

+12.3% from 2018

Annual return

18.49%

+18.32 pp from 2018

Benchmarks

See 2,202 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,202 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.34M

Not enough data

1 years with asset history on file

Average account balance

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

$71K

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.

327

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.

94.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$438

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
TRANSAMERICA RETIREMENT SOLUTIONS3 years Service code 15 · EIN 13-3689044	Recordkeeping	$29,727
RESOURCES INVESTMENT ADVISORS LLC2 years Filed as: RESOURCES INVESTMENT ADVISORS, INC. Service code 27 · EIN 43-1451524	Advisory (Plan)	$23,837
SQUIRE PATTON BOGGS US LLP1 year Filed as: SQUIRE AND COMPANY PC Service code 10 · EIN 87-0343246	Accounting	$16,250

Plan features & details

Pension benefit codes2J2A2E2H2F3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$75K

$398 / participant

Other / not subdivided$75K100.0%

% of EOY assets

0.694%

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: SQUIRE & COMPANY
Auditor EIN: 870343246
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,858

$98,982-38.5%

$162,171-62.5%

$65,185-6.6%

Participation rate

88.8%

85.8%+3.1pp

87.6%+1.3pp

70.2%+18.6pp

Annual return

18.49%

24.84%-6.4pp

115.60%-97.1pp

29.38%-10.9pp

Employer contribution / active EE

$1,475

$3,467-57.4%

$5,613-73.7%

$2,177-32.2%

Participant deferral / active EE

$6,734

$5,384+25.1%

$7,297-7.7%

$3,514+91.6%

Admin fee / account holder

$422

$596-29.2%

$10,843-96.1%

$847-50.1%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS3 years

Service code 15 · EIN 13-3689044

Recordkeeping

$29,727

RESOURCES INVESTMENT ADVISORS LLC2 years

Filed as: RESOURCES INVESTMENT ADVISORS, INC.

Service code 27 · EIN 43-1451524

Advisory (Plan)

$23,837

SQUIRE PATTON BOGGS US LLP1 year

Filed as: SQUIRE AND COMPANY PC

Service code 10 · EIN 87-0343246

Accounting

$16,250

FIRST COLONY MORTGAGE CORP. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST COLONY MORTGAGE CORP. 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