Retirement plan

CARROLL ENTERPRISES, INC. 401(K)PLAN

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

CARROLL ENTERPRISES, INC.EIN 04-2497441Plan #002PY 2023

38 AUSTIN STREET - WORCESTER, MA 01609508-770-0215carrollenterprises.comLinkedIn201-500 employeesinsurance

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$21.1M

+22.1% from 2022

Total participants

183

+2.2% from 2022

Average account balance

$123,226

+20.6% from 2022

Annual return

17.37%

+32.59 pp from 2022

Benchmarks

See 2,152 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,152 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.22M

Not enough data

1 years with asset history on file

Average account balance

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

$147K

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.

158

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.

89.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.08M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+13.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$387

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 2 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY4 years Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346	Recordkeeping	$43,083
WITHUMSMITH+BROWN, PC2 years Filed as: WITHUM, SMITH & BROWN Service code 10 · EIN 22-2027092	Accounting	$9,372

Plan features & details

Pension benefit codes2E2G2J2K3D2F2S2T

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$52K

$448 / participant

Contract admin$43K82.1%
Other / not subdivided$9K17.9%

% of EOY assets

0.249%

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: CARON BLETZER
Auditor EIN: 043499945
Audit fees: $9,372
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$123,226

$130,294-5.4%

$170,057-27.5%

$71,529+72.3%

Participation rate

89.7%

86.2%+3.6pp

87.0%+2.7pp

67.9%+21.8pp

Annual return

17.37%

20.36%-3.0pp

53.42%-36.0pp

28.97%-11.6pp

Employer contribution / active EE

$1,298

$4,385-70.4%

$6,790-80.9%

$2,590-49.9%

Participant deferral / active EE

$8,253

$6,928+19.1%

$10,411-20.7%

$4,291+92.3%

Admin fee / account holder

$307

$966-68.3%

$12,826-97.6%

$1,588-80.7%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY4 years

Filed as: JOHN HANCOCK

Service code 15 · EIN 01-0233346

Recordkeeping

$43,083

WITHUMSMITH+BROWN, PC2 years

Filed as: WITHUM, SMITH & BROWN

Service code 10 · EIN 22-2027092

Accounting

$9,372

CARROLL ENTERPRISES, INC. 401(K)PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CARROLL ENTERPRISES, 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