Retirement plan

MORLEY BUILDERS EMPLOYEE SAVINGS PLAN

Name: MORLEY BUILDERS, INC. - MORLEY BUILDERS EMPLOYEE SAVINGS PLAN (2020) Form 5500
Creator: MORLEY BUILDERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORLEY BUILDERS EMPLOYEE SAVINGS PLAN, MORLEY BUILDERS, INC.

MORLEY BUILDERS, INC.EIN 95-3920697Plan #002PY 2020

3330 OCEAN PARK - SANTA MONICA, CA 90405310-399-1600morleybuilders.comLinkedIn201-500 employeesconstruction

Other plans on this EIN

1 filing

#108Retirement-$84.4M assets

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$30.1M

+20.8% from 2019

Total participants

239

+4.8% from 2019

Average account balance

$133,997

+14.3% from 2019

Annual return

17.96%

-5.72 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

$36.78M

Not enough data

1 years with asset history on file

Average account balance

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

$185K

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.

199

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.

93.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.83M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+18.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$588

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290	Contract Administrator	$76,335
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO ADVISORS FINANCIAL NETW Service code 27 · EIN 34-1542819	Advisory (Plan)	$30,000
MOSS ADAMS LLP3 years Filed as: MOSS ADAMS Service code 10 · EIN 91-0189318	Accounting	$27,250
ASCENSUS LLC3 years Filed as: QBI AN ASCENSUS COMPANY Service code 13 · EIN 26-2768667 21031 VENTURA BLVD 12TH FLOOR · WOODLAND HILLS, CA 91364	Contract Administrator	$14,163

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.

Opportunity flags

2 tripped

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.)

Expense breakdown

Schedule H Part II

Admin total

$106K

$588 / participant

Contract admin$106K100.0%

% of EOY assets

0.353%

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: MOSS ADAMS LLP
Auditor EIN: 910189318
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$133,997

$69,383+93.1%

$101,275+32.3%

$73,497+82.3%

Participation rate

92.3%

68.4%+23.9pp

75.8%+16.5pp

70.7%+21.6pp

Annual return

17.96%

18.46%-0.5pp

46.48%-28.5pp

28.51%-10.6pp

Employer contribution / active EE

$2,628-100.0%

$3,660-100.0%

$2,270-100.0%

Participant deferral / active EE

$8,974

$3,301+171.9%

$4,371+105.3%

$3,740+140.0%

Admin fee / account holder

$473

$704-32.8%

$5,948-92.1%

$513-7.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$76,335

WELLS FARGO BANK, N.A.3 years

Filed as: WELLS FARGO ADVISORS FINANCIAL NETW

Service code 27 · EIN 34-1542819

Advisory (Plan)

$30,000

MOSS ADAMS LLP3 years

Filed as: MOSS ADAMS

Service code 10 · EIN 91-0189318

Accounting

$27,250

ASCENSUS LLC3 years

Filed as: QBI AN ASCENSUS COMPANY

Service code 13 · EIN 26-2768667

21031 VENTURA BLVD 12TH FLOOR · WOODLAND HILLS, CA 91364

Contract Administrator

$14,163

MORLEY BUILDERS EMPLOYEE SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORLEY BUILDERS EMPLOYEE SAVINGS 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