Retirement plan

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

Name: T.B. PENICK & SONS, INC. - T.B. PENICK & SONS, INC. 401(K) PLAN (2021) 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 2021

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

Prospect flagsLow returnsHigh feesLow participationLow employer contribution

How to read this page

Total assets (EOY)

$8.3M

-7.6% from 2020

Total participants

173

+4.8% from 2020

Average account balance

$104,912

+21.7% from 2020

Annual return

9.35%

-7.68 pp from 2020

Benchmarks

See 2,982 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,982 peers

Snapshot2021

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$8.16M

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.

71.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$533K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+15.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7009

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 6 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION1 year Filed as: LINCOLN FINANCIAL ADVISORS Service code 27 · EIN 23-1702591 1300 S CLINTON ST 1H-50 · FORT WAYNE, IN 46802	Advisory (Plan)	$18,086
PREMIER PLAN CONSULTANTS3 years Service code 13 · EIN 82-0986372 6215 FERRIS SQ. SUITE 125 · SAN DIEGO, CA 92121	Contract Administrator	$12,116
AKT LLP1 year Service code 10 · EIN 93-0623286 680 HAWTHORNE AVE SE STE 140 · SALEM, OR 973010041	Accounting	$7,500
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Service code 15 · EIN 84-0467907	Recordkeeping	$380
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST CORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$252
RELIANCE TRUST COMPANY4 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

4 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$42K

$292 / participant

Contract admin$42K100.0%

% of EOY assets

0.507%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

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

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$104,912

$77,660+35.1%

$109,143-3.9%

$79,386+32.2%

Participation rate

34.7%

67.8%-33.1pp

75.9%-41.2pp

70.7%-36.0pp

Annual return

9.35%

23.44%-14.1pp

25.75%-16.4pp

116.85%-107.5pp

Employer contribution / active EE

$2,797-100.0%

$3,722-100.0%

$2,427-100.0%

Participant deferral / active EE

$2,963

$3,518-15.8%

$4,653-36.3%

$4,046-26.7%

Admin fee / account holder

$532

$732-27.3%

$6,752-92.1%

$626-15.1%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION1 year

Filed as: LINCOLN FINANCIAL ADVISORS

Service code 27 · EIN 23-1702591

1300 S CLINTON ST 1H-50 · FORT WAYNE, IN 46802

Advisory (Plan)

$18,086

PREMIER PLAN CONSULTANTS3 years

Service code 13 · EIN 82-0986372

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

Contract Administrator

$12,116

AKT LLP1 year

Service code 10 · EIN 93-0623286

680 HAWTHORNE AVE SE STE 140 · SALEM, OR 973010041

Accounting

$7,500

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Service code 15 · EIN 84-0467907

Recordkeeping

$380

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST CORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$252

RELIANCE TRUST COMPANY4 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