Retirement plan

CFC RETIREMENT PLAN

Name: CARRIS FINANCIAL CORP. - CFC RETIREMENT PLAN (2023) Form 5500
Creator: CARRIS FINANCIAL CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CFC RETIREMENT PLAN, CARRIS FINANCIAL CORP.

CARRIS FINANCIAL CORP.EIN 03-0326210Plan #004PY 2023

49 MAIN STREET - PROCTOR, VT 057651178802-773-9111

Other plans on this EIN

1 filing

#005Retirement-$88.3M assets

Prospect flagsLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$26.4M

-5.9% from 2016

Total participants

659

-4.1% from 2016

Average account balance

$41,164

-0.9% from 2016

Annual return

30.90%

-8.59 pp from 2016

Benchmarks

See 1,153 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,153 peers

Snapshot2023

Participant deferral / active EE

$1,712

median $4,314

Employer contribution / active EE

$2,186

median $2,193

Participation rate

96.3%

median 92.2%

Avg account balance

$41,164

median $66,908

Admin fee / account holder

$114

median $129

Annual return

30.90%

median 17.47%

Overall peer rank

50of 100

50th percentileavg across 6 metrics

Analytics

2015 - 2024

Total assets (EOY)

Plan-year ending balance

$25.74M

Average account balance

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

$49K

Participants with account balance

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

526

Eligible Participants and Participation

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

86.8%

Contributions (total)

Employer and participant dollars contributed each year

$1.99M

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+21.02%

Admin fee / account holder

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

$136

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Mutual / pooled
Stocks
Bonds
Cash
Real estate
Loans

Service providers

Top 2 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$45,335
PENSIONMARK FINANCIAL GROUP LLC5 years Service code 27 24 E COTA ST STE 200 · SANTA BARBARA, CA 93101	Advisory (Plan)	$27,498

Plan features & details

Pension benefit codes2E2F2G2J2T3B3D3H

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$73K

$151 / participant

Recordkeeping$45K62.2%
Investment mgmt$27K37.8%

% of EOY assets

0.276%

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: MCSOLEY AND MCCOY
Auditor EIN: 030327374
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,164

$84,784-51.4%

$98,462-58.2%

$74,478-44.7%

Participation rate

96.3%

81.5%+14.7pp

75.2%+21.1pp

70.7%+25.5pp

Annual return

30.90%

20.59%+10.3pp

21.20%+9.7pp

34.37%-3.5pp

Employer contribution / active EE

$2,186

$3,364-35.0%

$3,049-28.3%

$2,637-17.1%

Participant deferral / active EE

$1,712

$5,218-67.2%

$4,738-63.9%

$4,530-62.2%

Admin fee / account holder

$114

$204-44.4%

$8,875-98.7%

$347-67.3%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$45,335

PENSIONMARK FINANCIAL GROUP LLC5 years

Service code 27

24 E COTA ST STE 200 · SANTA BARBARA, CA 93101

Advisory (Plan)

$27,498

CFC RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CFC 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