Retirement plan

CLOSET STORAGE SYSTEMS, INC. 401K) PLAN

Name: CLOSET STORAGE SYSTEMS, INC. - CLOSET STORAGE SYSTEMS, INC. 401K) PLAN (2020) Form 5500
Creator: CLOSET STORAGE SYSTEMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLOSET STORAGE SYSTEMS, INC. 401K) PLAN, CLOSET STORAGE SYSTEMS, INC.

CLOSET STORAGE SYSTEMS, INC.EIN 04-3350455Plan #001PY 2020

81 PINEHURST AVENUE - AUBURN, MA 01501508-832-4044LinkedIn11-50 employeesdesign

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$549K

+60.2% from 2019

Total participants

+15.8% from 2019

Average account balance

$27,445

+44.2% from 2019

Annual return

16.65%

-40.06 pp from 2019

Benchmarks

See 120,756 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,756 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.75M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

238.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$188K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+14.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$846

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 codes2E2F2J2T3D

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).
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.
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

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

$7K

$336 / participant

Other / not subdivided$7K100.0%

% of EOY assets

1.223%

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

$27,445

$165,381-83.4%

$149,730-81.7%

$158,966-82.7%

Participation rate

90.0%

84.6%+5.4pp

82.5%+7.5pp

82.0%+8.0pp

Annual return

16.65%

348.29%-331.6pp

276.70%-260.0pp

302.95%-286.3pp

Employer contribution / active EE

$1,348

$5,104-73.6%

$4,645-71.0%

$4,762-71.7%

Participant deferral / active EE

$6,452

$7,182-10.2%

$6,843-5.7%

$5,983+7.8%

Admin fee / account holder

$336

$10,809-96.9%

$9,310-96.4%

$11,250-97.0%

CLOSET STORAGE SYSTEMS, INC. 401K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLOSET STORAGE SYSTEMS, INC. 401K) 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