Retirement plan

NORTHWEST 401(K) BENEFITS GROUP

Name: SOUND FORD, INC - NORTHWEST 401(K) BENEFITS GROUP (2019) Form 5500
Creator: SOUND FORD, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHWEST 401(K) BENEFITS GROUP, SOUND FORD, INC

SOUND FORD, INCEIN 91-0906207Plan #001PY 2019

101 SW GRADY WAY - RENTON, WA 98057425-235-1000LinkedIn1-10 employeesfinancial services

Prospect flagsHigh feesLow participationLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$6.8M

+9.0% from 2018

Total participants

502

-1.2% from 2018

Average account balance

$34,840

+0.0% from 2018

Annual return

20.85%

+30.13 pp from 2018

Benchmarks

See 1,312 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,312 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.72M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

53.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$322K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+18.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8811

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

0 years with F_SCH_H allocation on file

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS1 year Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$1,416,142
WASHINGTON TRUST BANK5+ years Service code 99 717 W SPRAGUE AVE · SPOKANE, WA 99201	Other Fees	$25,421
LEE CPA AUDIT GROUP1 year Service code 10 · EIN 81-4637885	Accounting	$12,682
LPL FINANCIAL1 year Filed as: LPL FINANCIAL CORPORATION Service code 27 · EIN 04-3046611	Advisory (Plan)	$5,531
HUNNEX AND SHOEMAKER, INC.1 year Filed as: HUNNEX & SHOEMAKER, INC. Service code 15 · EIN 91-1072394	Recordkeeping	$3,545
GREAT-WEST LIFE & ANNUITY INSURANCE4+ years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$300
CHARLES SCHWAB & CO., INC.5+ years Filed as: CHARLES SCHWAB Service code 33 · EIN 94-1737782	Securities brokerage; Securities brok...	$45

Plan features & details

Pension benefit codes2A2E2F2G2J2K2R2T3D3H

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).
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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$66K

$169 / participant

Contract admin$66K100.0%

% of EOY assets

0.970%

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: LEE CPA AUDIT GROUP
Auditor EIN: 814637885
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,840

$40,174-13.3%

$84,021-58.5%

$67,579-48.4%

Participation rate

20.8%

62.7%-41.9pp

69.0%-48.2pp

71.3%-50.5pp

Annual return

20.85%

25.82%-5.0pp

71.32%-50.5pp

378.56%-357.7pp

Employer contribution / active EE

$98

$808-87.8%

$1,984-95.1%

$2,148-95.4%

Participant deferral / active EE

$1,211

$2,301-47.4%

$3,239-62.6%

$3,539-65.8%

Admin fee / account holder

$338

$128+163.4%

$6,102-94.5%

$142+137.5%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$1,416,142

WASHINGTON TRUST BANK5+ years

Service code 99

717 W SPRAGUE AVE · SPOKANE, WA 99201

Other Fees

$25,421

LEE CPA AUDIT GROUP1 year

Service code 10 · EIN 81-4637885

Accounting

$12,682

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL CORPORATION

Service code 27 · EIN 04-3046611

Advisory (Plan)

$5,531

HUNNEX AND SHOEMAKER, INC.1 year

Filed as: HUNNEX & SHOEMAKER, INC.

Service code 15 · EIN 91-1072394

Recordkeeping

$3,545

GREAT-WEST LIFE & ANNUITY INSURANCE4+ years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$300

CHARLES SCHWAB & CO., INC.5+ years

Filed as: CHARLES SCHWAB

Service code 33 · EIN 94-1737782

Securities brokerage; Securities brok...

$45

NORTHWEST 401(K) BENEFITS GROUP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHWEST 401(K) BENEFITS GROUP

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