Retirement plan

WESTERN REGION RETIREMENT TRUST 401(K) AND REGULAR PROFIT SHARING PLAN

Name: BASIC RESOURCES, INC. - WESTERN REGION RETIREMENT TRUST 401(K) AND REGULAR PROFIT SHARING PLAN (2018) Form 5500
Creator: BASIC RESOURCES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN REGION RETIREMENT TRUST 401(K) AND REGULAR PROFIT SHARING PLAN, BASIC RESOURCES, INC.

BASIC RESOURCES, INC.EIN 94-2208599Plan #006PY 2018

928 12TH STREET, SUITE 700 - MODESTO, CA 95354209-521-9771LinkedIn501-1000 employeesconstruction

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$32.9M

-7.9% from 2017

Total participants

771

-10.2% from 2017

Average account balance

$44,887

-15.4% from 2017

Annual return

-6.08%

-20.69 pp from 2017

Benchmarks

See 1,182 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,182 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$60.05M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

739

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.69M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+9.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$271

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
CUTLER INVESTMENT COUNSEL, LLC4+ years Filed as: CUTLER INVESTMENT GROUP Service code 28 525 BIGHAM KNOLL · JACKSONVILLE, OR 97530	Investment Management	$98,653
PROFESSIONAL CAPITAL SERVICES, LLC1 year Service code 13 1801 MARKET STREET · PHILADELPHIA, PA 19103	Contract Administrator	$80,975
ADVISORTRUST1 year Service code 21 · EIN 46-4091337	Bank Trustee	$18,054
MARK ANDERSON, CPA4+ years Service code 10 3509 COFFEE ROAD · MODESTO, CA 95355	Accounting	$11,400

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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.)
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

$221K

$487 / participant

Investment mgmt$99K44.6%
Contract admin$81K36.6%
Other / not subdivided$42K18.8%

% of EOY assets

0.672%

all-in expense ratio

Categories reported

2 / 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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,887

$56,443-20.5%

$83,831-46.5%

$55,725-19.4%

Participation rate

91.9%

72.0%+19.8pp

76.1%+15.7pp

70.9%+21.0pp

Annual return

-6.08%

393.67%-399.7pp

850.99%-857.1pp

244.93%-251.0pp

Employer contribution / active EE

$3,686

$2,682+37.5%

$3,631+1.5%

$2,078+77.4%

Participant deferral / active EE

$2,773

$2,965-6.5%

$4,082-32.1%

$3,356-17.4%

Admin fee / account holder

$301

$156+93.0%

$5,479-94.5%

$115+161.7%

Provider

Service type

Compensation

CUTLER INVESTMENT COUNSEL, LLC4+ years

Filed as: CUTLER INVESTMENT GROUP

Service code 28

525 BIGHAM KNOLL · JACKSONVILLE, OR 97530

Investment Management

$98,653

PROFESSIONAL CAPITAL SERVICES, LLC1 year

Service code 13

1801 MARKET STREET · PHILADELPHIA, PA 19103

Contract Administrator

$80,975

ADVISORTRUST1 year

Service code 21 · EIN 46-4091337

Bank Trustee

$18,054

MARK ANDERSON, CPA4+ years

Service code 10

3509 COFFEE ROAD · MODESTO, CA 95355

Accounting

$11,400

WESTERN REGION RETIREMENT TRUST 401(K) AND REGULAR PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTERN REGION RETIREMENT TRUST 401(K) AND REGULAR 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