Retirement plan

BUSINESS SERVICES ETC INC. 401(K) PROFIT SHARING PLAN AND T

Name: BUSINESS SERVICES ETC INC. - BUSINESS SERVICES ETC INC. 401(K) PROFIT SHARING PLAN AND T (2022) Form 5500
Creator: BUSINESS SERVICES ETC INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BUSINESS SERVICES ETC INC. 401(K) PROFIT SHARING PLAN AND T, BUSINESS SERVICES ETC INC.

BUSINESS SERVICES ETC INC.EIN 01-0772534Plan #001PY 2022

260 KINGS MALL CT - KINGSTON, NY 12401845-336-4877LinkedIn1-10 employees

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$77K

-12.8% from 2021

Total participants

+9.1% from 2021

Average account balance

$15,369

-30.2% from 2021

Annual return

-18.09%

-35.18 pp from 2021

Benchmarks

See 17,023 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort17,023 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$111K

Not enough data

1 years with asset history on file

Average account balance

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

$22K

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.

25.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$140

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

+13.96%

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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 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.

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,369

$93,117-83.5%

$77,096-80.1%

$134,532-88.6%

Participation rate

36.4%

74.5%-38.1pp

67.9%-31.6pp

81.2%-44.9pp

Annual return

-18.09%

62.67%-80.8pp

42.35%-60.4pp

418.27%-436.4pp

Employer contribution / active EE

$3,420-100.0%

$2,814-100.0%

$4,741-100.0%

Participant deferral / active EE

$423

$5,241-91.9%

$4,429-90.4%

$6,401-93.4%

Admin fee / account holder

$6,948-100.0%

$5,428-100.0%

$11,429-100.0%

BUSINESS SERVICES ETC INC. 401(K) PROFIT SHARING PLAN AND T

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

BUSINESS SERVICES ETC INC. 401(K) PROFIT SHARING PLAN AND T

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion