Retirement plan

PROVA, INC. 401(K) PROFIT SHARING PLAN

Name: PROVA, INC. - PROVA, INC. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: PROVA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROVA, INC. 401(K) PROFIT SHARING PLAN, PROVA, INC.

PROVA, INC.EIN 04-3230402Plan #001PY 2019

100 CONIFER HILL DRIVE, SUITE 208 - DANVERS, MA 01923978-739-9055

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.4M

-5.8% from 2018

Total participants

+14.3% from 2018

Average account balance

$59,038

-17.6% from 2018

Annual return

16.95%

+20.47 pp from 2018

Benchmarks

See 3,426 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort3,426 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.89M

Not enough data

1 years with asset history on file

Average account balance

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

$93K

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.

124.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$614K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$25K

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

+14.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$45929

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 codes2E2F2G2J3D

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

1 tripped

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

$635K

$35254 / participant

Other / not subdivided$635K100.0%

% of EOY assets

44.786%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$59,038

$104,544-43.5%

$76,657-23.0%

$152,897-61.4%

Participation rate

100.0%

76.6%+23.4pp

72.1%+27.9pp

82.5%+17.5pp

Annual return

16.95%

1014.36%-997.4pp

1166.74%-1149.8pp

345.43%-328.5pp

Employer contribution / active EE

$10,774

$3,118+245.6%

$2,303+367.9%

$4,764+126.2%

Participant deferral / active EE

$5,454

$4,236+28.8%

$3,335+63.5%

$5,851-6.8%

Admin fee / account holder

$26,441

$12,286+115.2%

$6,423+311.7%

$11,599+127.9%

PROVA, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROVA, INC. 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