Retirement plan

BEST CHEVROLET, INC. 401(K) PLAN

Name: BEST CHEVROLET, INC. - BEST CHEVROLET, INC. 401(K) PLAN (2023) Form 5500
Creator: BEST CHEVROLET, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BEST CHEVROLET, INC. 401(K) PLAN, BEST CHEVROLET, INC.

BEST CHEVROLET, INC.EIN 04-2225062Plan #002PY 2023

128 DERBY ST. - HINGHAM, MA 02043781-749-1950

Prospect flagsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$7.4M

+3.7% from 2022

Total participants

186

+11.4% from 2022

Average account balance

$42,240

-7.6% from 2022

Annual return

16.98%

+32.72 pp from 2022

Benchmarks

See 2,285 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,285 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.06M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

155

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.

93.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$576K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+15.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$293

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 8 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Filed as: JOHN HANCOCK RETIREMENT PLAN SERVIC Service code 49 · EIN 01-0233346	Other Services	$21,753
WITHUMSMITH+BROWN, PC1 year Filed as: WITHUM, SMITH & BROWN, PC Service code 10 25 BRAINTREE HILL OFFICE PARK · BRAINTREE, MA 02184	Accounting	$6,500
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$3,469
THE ANGELL PENSION GROUP, INC.1 year Service code 13 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914	Contract Administrator	$813
STRATEGIC ADVISORS, INC.1 year Service code 27 · EIN 04-2654524	Advisory (Plan)	$677
COMMONWEALTH FINANCIAL NETWORK1 year Filed as: COMMONWEALTH FINANCIAL GROUP Service code 27 1295 STATE STREET · SPRINGFIELD, MA 01111	Advisory (Plan)	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MML INVESTORS SERVICES, LLC Service code 27 1295 STATE STREET · SPRINGFIELD, MA 01111	Advisory (Plan)	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MML INVESTORS SERVICES, LLC - QUINC Service code 27	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2F2G2J2K2T3H3D

Plan features

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.
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

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$33K

$305 / participant

Other / not subdivided$33K100.0%

% of EOY assets

0.449%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,240

$54,717-22.8%

$86,216-51.0%

$71,511-40.9%

Participation rate

89.9%

60.1%+29.8pp

69.0%+20.9pp

67.9%+22.0pp

Annual return

16.98%

20.07%-3.1pp

1169.42%-1152.4pp

28.86%-11.9pp

Employer contribution / active EE

$1,034

$1,267-18.4%

$2,382-56.6%

$2,589-60.1%

Participant deferral / active EE

$5,220

$3,110+67.8%

$3,986+31.0%

$4,291+21.7%

Admin fee / account holder

$190

$1,922-90.1%

$6,853-97.2%

$1,588-88.1%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Filed as: JOHN HANCOCK RETIREMENT PLAN SERVIC

Service code 49 · EIN 01-0233346

Other Services

$21,753

WITHUMSMITH+BROWN, PC1 year

Filed as: WITHUM, SMITH & BROWN, PC

Service code 10

25 BRAINTREE HILL OFFICE PARK · BRAINTREE, MA 02184

Accounting

$6,500

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$3,469

THE ANGELL PENSION GROUP, INC.1 year

Service code 13

88 BOYD AVENUE · EAST PROVIDENCE, RI 02914

Contract Administrator

$813

STRATEGIC ADVISORS, INC.1 year

Service code 27 · EIN 04-2654524

Advisory (Plan)

$677

COMMONWEALTH FINANCIAL NETWORK1 year

Filed as: COMMONWEALTH FINANCIAL GROUP

Service code 27

1295 STATE STREET · SPRINGFIELD, MA 01111

Advisory (Plan)

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MML INVESTORS SERVICES, LLC

Service code 27

1295 STATE STREET · SPRINGFIELD, MA 01111

Advisory (Plan)

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MML INVESTORS SERVICES, LLC - QUINC

Service code 27

Advisory (Plan)

BEST CHEVROLET, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BEST CHEVROLET, INC. 401(K) 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