Retirement plan

RICHSMITH DEVELOPMENT, LLC 401(K) RETIREMENT PLAN

Name: RICHSMITH DEVELOPMENT, LLC - RICHSMITH DEVELOPMENT, LLC 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: RICHSMITH DEVELOPMENT, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RICHSMITH DEVELOPMENT, LLC 401(K) RETIREMENT PLAN, RICHSMITH DEVELOPMENT, LLC

RICHSMITH DEVELOPMENT, LLCEIN 95-4894253Plan #001PY 2023

9800 MAUMELLE BOULEVARD - NORTH LITTLE ROCK, AR 72113501-800-2528richsmithmanagement.comLinkedIn201-500 employeesreal estate

Prospect flagsHigh feesLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$5.6M

+23.9% from 2022

Total participants

351

+41.0% from 2022

Average account balance

$56,461

+31.4% from 2022

Annual return

17.93%

+34.50 pp from 2022

Benchmarks

See 657 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants250-999

Cohort657 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-100.00%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 5 by compensation

Provider	Service type	Compensation
STEPHENS INC3 years Filed as: STEPHENS GROUP ASSET MANAGEMENT LLC Service code 27 100 RIVER BLUFF DR UNIT 220 · LITTLE ROCK, AR 72202	Advisory (Plan)	$18,814
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$17,271
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$1,611
LEAFHOUSE FINANCIAL ADVISORS, LLC4 years Service code 99 6300 BRIDGE POINT PKWY BLDG 1 STE 3 · AUSTIN, TX 787305097	Other Fees	$966
AVANTAX INSURANCE AGENCY LLC1 year Filed as: AVANTAX INVESTMENT SERVICES INC DBA Service code 27 3200 OLYMPUS BLVD STE 100 · DALLAS, TX 75019	Advisory (Plan)	$99

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3H3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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.)
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

$39K

$120 / participant

Recordkeeping$17K44.6%
Investment mgmt$21K53.0%
Other / not subdivided$9662.5%

% of EOY assets

0.693%

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: GARLAND AND GREENWOOD, PLLC
Auditor EIN: 843828205
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$56,461

$56,638-0.3%

$169,385-66.7%

$74,440-24.2%

Participation rate

21.7%

67.5%-45.8pp

77.2%-55.4pp

70.7%-49.0pp

Annual return

17.93%

24.75%-6.8pp

405.82%-387.9pp

34.37%-16.4pp

Employer contribution / active EE

$358

$2,027-82.3%

$4,012-91.1%

$2,638-86.4%

Participant deferral / active EE

$912

$4,223-78.4%

$6,221-85.3%

$4,529-79.9%

Admin fee / account holder

$392

$307+27.7%

$9,011-95.7%

$348+12.6%

Provider

Service type

Compensation

STEPHENS INC3 years

Filed as: STEPHENS GROUP ASSET MANAGEMENT LLC

Service code 27

100 RIVER BLUFF DR UNIT 220 · LITTLE ROCK, AR 72202

Advisory (Plan)

$18,814

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$17,271

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$1,611

LEAFHOUSE FINANCIAL ADVISORS, LLC4 years

Service code 99

6300 BRIDGE POINT PKWY BLDG 1 STE 3 · AUSTIN, TX 787305097

Other Fees

$966

AVANTAX INSURANCE AGENCY LLC1 year

Filed as: AVANTAX INVESTMENT SERVICES INC DBA

Service code 27

3200 OLYMPUS BLVD STE 100 · DALLAS, TX 75019

Advisory (Plan)

$99

RICHSMITH DEVELOPMENT, LLC 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RICHSMITH DEVELOPMENT, LLC 401(K) RETIREMENT 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