Retirement plan

COMBINED MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN

Name: COMBINED MANAGEMENT, INC. - COMBINED MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: COMBINED MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COMBINED MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN, COMBINED MANAGEMENT, INC.

COMBINED MANAGEMENT, INC.EIN 01-0469265Plan #001PY 2024

520 MAIN STREET - LEWISTON, ME 04240207-782-8246

Prospect flagsLow returnsHigh feesLow participationLow assets / participantLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$7.7M

+6.0% from 2023

Total participants

454

+6.1% from 2023

Average account balance

$32,713

+6.0% from 2023

Annual return

11.88%

-10.98 pp from 2023

Benchmarks

See 3,296 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,296 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.65M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

234

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.

41.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$960K

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

+11.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$320

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
CHOICE WEALTH ADVISORS6 years Service code 26 · EIN 20-2441108 325D KENNEDY MEMORIAL DRIVE · WATERVILLE, ME 04901	Advisory (Participants)	$29,480
JOHN HANCOCK LIFE INSURANCE COMPANY8 years Service code 15 · EIN 01-0233346	Recordkeeping	$25,838
BERRY DUNN1 year Filed as: BERRY DUNN MCNEIL & PARKER, LLC Service code 10 · EIN 01-0523282	Accounting	$10,000
THE MANDMARBLESTONE GROUP LLC3 years Service code 16 · EIN 20-4780677	Consulting	$9,533

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

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.

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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$75K

$200 / participant

Recordkeeping$26K34.5%
Investment mgmt$29K39.4%
Other / not subdivided$20K26.1%

% of EOY assets

0.978%

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: BDMP ASSURANCE, LLP
Auditor EIN: 994708358
Audit fees: $10,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,713

$106,264-69.2%

$147,117-77.8%

$77,762-57.9%

Participation rate

41.3%

78.4%-37.1pp

82.2%-40.9pp

70.6%-29.3pp

Annual return

11.88%

56.94%-45.1pp

420.54%-408.7pp

31.27%-19.4pp

Employer contribution / active EE

$621

$4,074-84.8%

$4,932-87.4%

$2,728-77.3%

Participant deferral / active EE

$1,940

$8,003-75.8%

$8,065-75.9%

$4,651-58.3%

Admin fee / account holder

$320

$334-4.3%

$12,993-97.5%

$433-26.1%

Provider

Service type

Compensation

CHOICE WEALTH ADVISORS6 years

Service code 26 · EIN 20-2441108

325D KENNEDY MEMORIAL DRIVE · WATERVILLE, ME 04901

Advisory (Participants)

$29,480

JOHN HANCOCK LIFE INSURANCE COMPANY8 years

Service code 15 · EIN 01-0233346

Recordkeeping

$25,838

BERRY DUNN1 year

Filed as: BERRY DUNN MCNEIL & PARKER, LLC

Service code 10 · EIN 01-0523282

Accounting

$10,000

THE MANDMARBLESTONE GROUP LLC3 years

Service code 16 · EIN 20-4780677

Consulting

$9,533

COMBINED MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COMBINED MANAGEMENT, INC. 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