Retirement plan

JOSEPH P. CARRARA AND SONS, INC. 401(K) AND PROFIT SHARING PLAN

Name: JOSEPH P. CARRARA AND SONS, INC. - JOSEPH P. CARRARA AND SONS, INC. 401(K) AND PROFIT SHARING PLAN (2020) Form 5500
Creator: JOSEPH P. CARRARA AND SONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JOSEPH P. CARRARA AND SONS, INC. 401(K) AND PROFIT SHARING PLAN, JOSEPH P. CARRARA AND SONS, INC.

JOSEPH P. CARRARA AND SONS, INC.EIN 03-0212647Plan #001PY 2020

167 N. SHREWSBURY ROAD - N CLARENDON, VT 05759802-775-2301LinkedIn51-200 employeesconstruction

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$17.8M

+13.0% from 2019

Total participants

124

-4.6% from 2019

Average account balance

$155,812

+16.9% from 2019

Annual return

13.72%

-11.65 pp from 2019

Benchmarks

See 1,894 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,894 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.15M

Not enough data

1 years with asset history on file

Average account balance

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

$178K

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.

113

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.

92.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$356K

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

+13.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$423

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
GREAT-WEST LIFE & ANNUITY INSURANCE4 years Filed as: EDWARD D JONES & CO Service code 50 · EIN 43-0345811	Direct Payment	$37,010
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASSMUTUAL LIFE INSURANCE CO Service code 15 · EIN 04-1590850	Recordkeeping	$1,705
ENVESTNET RETIREMENT SOLUTIONS, LLC1 year Filed as: ENVESTNET RETIREMENT SOLUTIONS LLC Service code 28 · EIN 61-1732930	Investment Management	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC5 years Service code 28	Investment Management	$0

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$39K

$369 / participant

Investment mgmt$37K95.6%
Other / not subdivided$2K4.4%

% of EOY assets

0.218%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: TEAL, BECKER & CHIARAMONTE, CPAS PC
Auditor EIN: 141524930
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$155,812

$70,917+119.7%

$98,916+57.5%

$73,493+112.0%

Participation rate

90.5%

73.8%+16.7pp

76.0%+14.4pp

70.7%+19.8pp

Annual return

13.72%

34.18%-20.5pp

196.45%-182.7pp

28.51%-14.8pp

Employer contribution / active EE

$2,609

$2,037+28.1%

$2,689-3.0%

$2,270+14.9%

Participant deferral / active EE

$2,803

$3,501-19.9%

$4,245-34.0%

$3,740-25.1%

Admin fee / account holder

$340

$535-36.5%

$6,642-94.9%

$513-33.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE4 years

Filed as: EDWARD D JONES & CO

Service code 50 · EIN 43-0345811

Direct Payment

$37,010

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASSMUTUAL LIFE INSURANCE CO

Service code 15 · EIN 04-1590850

Recordkeeping

$1,705

ENVESTNET RETIREMENT SOLUTIONS, LLC1 year

Filed as: ENVESTNET RETIREMENT SOLUTIONS LLC

Service code 28 · EIN 61-1732930

Investment Management

ENVESTNET RETIREMENT SOLUTIONS, LLC5 years

Service code 28

Investment Management

JOSEPH P. CARRARA AND SONS, INC. 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JOSEPH P. CARRARA AND SONS, INC. 401(K) AND 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