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 (2021) 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 2021

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

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$50.9M

+15.0% from 2020

Total participants

731

-2.8% from 2020

Average account balance

$75,378

+19.4% from 2020

Annual return

11.43%

+0.45 pp from 2020

Benchmarks

See 1,300 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,300 peers

Snapshot2021

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 3 by compensation

Provider	Service type	Compensation
PROFESSIONAL CAPITAL SERVICES, LLC4 years Service code 13 1801 MARKET STREET, SUITE 1000 · PHILADELPHA, PA 19103	Contract Administrator	$171,758
CUTLER INVESTMENT COUNSEL, LLC7+ years Filed as: CUTLER INVESTMENT GROUP Service code 28 525 BIGHAM KNOLL · JACKSONVILLE, OR 97530	Investment Management	$95,616
CLIFTONLARSONALLEN LLP1 year Service code 10 · EIN 41-0746749 2999 OAK ROAD · WALNUT, CA 94597	Accounting	$10,631

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

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

$278K

$520 / participant

Investment mgmt$96K34.4%
Contract admin$172K61.8%
Other / not subdivided$11K3.8%

% of EOY assets

0.546%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$75,378

$78,275-3.7%

$109,163-30.9%

$86,813-13.2%

Participation rate

89.5%

73.8%+15.7pp

75.9%+13.7pp

72.3%+17.2pp

Annual return

11.43%

19.14%-7.7pp

25.75%-14.3pp

97.93%-86.5pp

Employer contribution / active EE

$4,400

$3,105+41.7%

$3,723+18.2%

$2,406+82.9%

Participant deferral / active EE

$3,739

$3,641+2.7%

$4,654-19.7%

$4,131-9.5%

Admin fee / account holder

$412

$198+107.5%

$6,754-93.9%

$170+142.9%

Provider

Service type

Compensation

PROFESSIONAL CAPITAL SERVICES, LLC4 years

Service code 13

1801 MARKET STREET, SUITE 1000 · PHILADELPHA, PA 19103

Contract Administrator

$171,758

CUTLER INVESTMENT COUNSEL, LLC7+ years

Filed as: CUTLER INVESTMENT GROUP

Service code 28

525 BIGHAM KNOLL · JACKSONVILLE, OR 97530

Investment Management

$95,616

CLIFTONLARSONALLEN LLP1 year

Service code 10 · EIN 41-0746749

2999 OAK ROAD · WALNUT, CA 94597

Accounting

$10,631

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