Retirement plan

FRANCHI BROTHERS AUTO BODY INC. 401(K) PLAN

Name: FRANCHI BROTHERS AUTO BODY RADIATOR CORPORATION - FRANCHI BROTHERS AUTO BODY INC. 401(K) PLAN (2022) Form 5500
Creator: FRANCHI BROTHERS AUTO BODY RADIATOR CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRANCHI BROTHERS AUTO BODY INC. 401(K) PLAN, FRANCHI BROTHERS AUTO BODY RADIATOR CORPORATION

FRANCHI BROTHERS AUTO BODY RADIATOR CORPORATIONEIN 04-2308084Plan #001PY 2022

258 SHREWSBURY STREET - WORCESTER, MA 01604508-752-0401

Prospect flagsLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$54K

No prior year

Total participants

No prior year

Average account balance

$3,391

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 39,290 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort39,290 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$560K

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

93.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$133K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+21.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$77

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 codes2E2J2F2G3D

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.
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 assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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

$3,391

$92,743-96.3%

$82,744-95.9%

$134,532-97.5%

Participation rate

85.7%

75.2%+10.5pp

72.6%+13.2pp

81.2%+4.5pp

Annual return

0.00%

946.63%-946.6pp

702.22%-702.2pp

418.27%-418.3pp

Employer contribution / active EE

$782

$3,273-76.1%

$3,008-74.0%

$4,741-83.5%

Participant deferral / active EE

$3,092

$4,802-35.6%

$4,395-29.6%

$6,401-51.7%

Admin fee / account holder

$5,977-100.0%

$5,325-100.0%

$11,429-100.0%

FRANCHI BROTHERS AUTO BODY INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

FRANCHI BROTHERS AUTO BODY INC. 401(K) PLAN

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