Retirement plan

GOODWIN'S CHEVROLET COMPANY 401(K) PROFIT SHARING PLAN

Name: GOODWIN'S CHEVROLET COMPANY - GOODWIN'S CHEVROLET COMPANY 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: GOODWIN'S CHEVROLET COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOODWIN'S CHEVROLET COMPANY 401(K) PROFIT SHARING PLAN, GOODWIN'S CHEVROLET COMPANY

GOODWIN'S CHEVROLET COMPANYEIN 01-0270455Plan #001PY 2024

195 PLEASANT STREET, PO BOX 160 - BRUNSWICK, ME 04011207-729-1611

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$13.1M

+0.8% from 2023

Total participants

233

+4.0% from 2023

Average account balance

$61,129

-8.6% from 2023

Annual return

12.23%

-3.15 pp from 2023

Benchmarks

See 2,319 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,319 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$13.08M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

214

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.

88.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.43M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+12.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$387

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 2 by compensation

Provider	Service type	Compensation
UBS FINANCIAL SERVICES INC6 years Filed as: UBS FINANCIAL SERVICES INC. Service code 26 · EIN 13-2638166	Advisory (Participants)	$31,588
JOHN HANCOCK LIFE INSURANCE COMPANY10+ years Service code 15 · EIN 01-0233346	Recordkeeping	$2,188

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D3H

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.
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

1 tripped

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

$83K

$493 / participant

Investment mgmt$32K38.2%
Contract admin$51K61.8%

% of EOY assets

0.633%

all-in expense ratio

Categories reported

2 / 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: ALBIN RANDALL & BENNETT, CPAS
Auditor EIN: 010448006
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,129

$59,417+2.9%

$93,606-34.7%

$74,495-17.9%

Participation rate

88.7%

59.7%+29.0pp

68.7%+20.0pp

67.2%+21.5pp

Annual return

12.23%

81.83%-69.6pp

133.20%-121.0pp

1364.94%-1352.7pp

Employer contribution / active EE

$3,014

$1,264+138.5%

$2,420+24.6%

$2,623+14.9%

Participant deferral / active EE

$5,521

$3,050+81.0%

$4,411+25.1%

$4,346+27.0%

Admin fee / account holder

$387

$3,021-87.2%

$8,285-95.3%

$1,942-80.1%

Provider

Service type

Compensation

UBS FINANCIAL SERVICES INC6 years

Filed as: UBS FINANCIAL SERVICES INC.

Service code 26 · EIN 13-2638166

Advisory (Participants)

$31,588

JOHN HANCOCK LIFE INSURANCE COMPANY10+ years

Service code 15 · EIN 01-0233346

Recordkeeping

$2,188

GOODWIN'S CHEVROLET COMPANY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOODWIN'S CHEVROLET COMPANY 401(K) 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