Retirement plan

T.B. PENICK & SONS, INC. 401(K) PLAN

Name: T.B. PENICK & SONS, INC. - T.B. PENICK & SONS, INC. 401(K) PLAN (2020) Form 5500
Creator: T.B. PENICK & SONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, T.B. PENICK & SONS, INC. 401(K) PLAN, T.B. PENICK & SONS, INC.

T.B. PENICK & SONS, INC.EIN 95-2056465Plan #003PY 2020

15435 INNOVATIONS DRIVE. SUITE 100 - SAN DIEGO, CA 92128858-558-1800

Prospect flagsLow participationLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$9M

-3.4% from 2019

Total participants

165

-26.7% from 2019

Average account balance

$86,218

+15.1% from 2019

Annual return

17.03%

-4.68 pp from 2019

Benchmarks

See 2,939 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,939 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.04M

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

51.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$415K

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

+10.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16480

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
PREMIER PLAN CONSULTANTS2 years Service code 37 · EIN 82-0986372 6215 FERRIS SQ. SUITE 125 · SAN DIEGO, CA 92121	Loan Processing	$11,416
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC Service code 15 · EIN 26-1589907	Recordkeeping	$1,970
LINCOLN NATIONAL CORPORATION6+ years Filed as: LINCOLN INVESTMENT PLANNING Service code 53 · EIN 23-1702591	Insurance Commissions	$0
RELIANCE TRUST COMPANY3 years Service code 19 · EIN 58-1428634	Securities Custodian	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H2T

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.
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

3 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$13K

$121 / participant

Contract admin$13K100.0%

% of EOY assets

0.149%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ALDRICH CPAS AND ADVISORS LLP
Auditor EIN: 930623286
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$86,218

$69,383+24.3%

$101,275-14.9%

$73,497+17.3%

Participation rate

45.0%

68.4%-23.3pp

75.8%-30.8pp

70.7%-25.6pp

Annual return

17.03%

18.46%-1.4pp

46.48%-29.5pp

28.51%-11.5pp

Employer contribution / active EE

$2,628-100.0%

$3,660-100.0%

$2,270-100.0%

Participant deferral / active EE

$3,089

$3,301-6.4%

$4,371-29.3%

$3,740-17.4%

Admin fee / account holder

$129

$704-81.7%

$5,948-97.8%

$513-74.9%

Provider

Service type

Compensation

PREMIER PLAN CONSULTANTS2 years

Service code 37 · EIN 82-0986372

6215 FERRIS SQ. SUITE 125 · SAN DIEGO, CA 92121

Loan Processing

$11,416

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$1,970

LINCOLN NATIONAL CORPORATION6+ years

Filed as: LINCOLN INVESTMENT PLANNING

Service code 53 · EIN 23-1702591

Insurance Commissions

RELIANCE TRUST COMPANY3 years

Service code 19 · EIN 58-1428634

Securities Custodian

T.B. PENICK & SONS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

T.B. PENICK & SONS, INC. 401(K) 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