Retirement plan

EAST COAST SEAFOOD GROUP, LLC 401(K) PROFIT SHARING PLAN

Name: EAST COAST SEAFOOD, LLC - EAST COAST SEAFOOD GROUP, LLC 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: EAST COAST SEAFOOD, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EAST COAST SEAFOOD GROUP, LLC 401(K) PROFIT SHARING PLAN, EAST COAST SEAFOOD, LLC

EAST COAST SEAFOOD, LLCEIN 04-2730100Plan #001PY 2020

10 NORTH FRONT STREET - NEW BEDFORD, MA 02740978-561-3800eastcoastseafood.comLinkedIn201-500 employeeswholesale

Prospect flagsLow returnsHigh feesLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$12.3M

-27.7% from 2019

Total participants

191

-4.0% from 2019

Average account balance

$108,830

-3.4% from 2019

Annual return

2.48%

-22.47 pp from 2019

Benchmarks

See 261 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants100-249

Cohort261 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.95M

Not enough data

1 years with asset history on file

Average account balance

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

$164K

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.

61.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$670K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10038

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

Top 3 by compensation

Provider	Service type	Compensation
401(K) PLAN RESOURCES1 year Service code 16 27 ROSEWELL RD · BEDFORD, NH 03110	Consulting	$37,500
CETERA ADVISOR NETWORKS LLC3+ years Filed as: CETERA ADVISORS LLC Service code 61 · EIN 84-0858799	Finders' fees / placement fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL3+ years Service code 37 · EIN 04-2647786	Loan Processing	-$257

Plan features & details

Pension benefit codes2K2T3H2E2F2G2J3D

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$37K

$248 / participant

Other / not subdivided$37K100.0%

% of EOY assets

0.303%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: MFA
Auditor EIN: 043077056
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$108,830

$73,823+47.4%

$379,746-71.3%

$73,493+48.1%

Participation rate

48.0%

73.1%-25.1pp

78.4%-30.4pp

70.7%-22.7pp

Annual return

2.48%

29.06%-26.6pp

34.90%-32.4pp

28.51%-26.0pp

Employer contribution / active EE

$1,382

$2,472-44.1%

$3,540-61.0%

$2,270-39.1%

Participant deferral / active EE

$3,036

$4,038-24.8%

$6,024-49.6%

$3,740-18.8%

Admin fee / account holder

$330

$607-45.7%

$7,927-95.8%

$513-35.8%

Provider

Service type

Compensation

401(K) PLAN RESOURCES1 year

Service code 16

27 ROSEWELL RD · BEDFORD, NH 03110

Consulting

$37,500

CETERA ADVISOR NETWORKS LLC3+ years

Filed as: CETERA ADVISORS LLC

Service code 61 · EIN 84-0858799

Finders' fees / placement fees

FIDELITY INVESTMENTS INSTITUTIONAL3+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$257

EAST COAST SEAFOOD GROUP, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EAST COAST SEAFOOD GROUP, LLC 401(K) 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