Retirement plan

HARBOR COV EMPLOYEE RETIREMENT PLAN

Name: HARBOR COV, INC. - HARBOR COV EMPLOYEE RETIREMENT PLAN (2016) Form 5500
Creator: HARBOR COV, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARBOR COV EMPLOYEE RETIREMENT PLAN, HARBOR COV, INC.

HARBOR COV, INC.EIN 04-3458096Plan #001PY 2016

148 SHAWMUT STREET, P.O. BOX 505754 - CHELSEA, MA 02150617-884-9799

Prospect flagsHigh feesLow participationLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$405K

+9.2% from 2015

Total participants

-3.8% from 2015

Average account balance

$27,023

+16.4% from 2015

Annual return

6.31%

+7.56 pp from 2015

Benchmarks

See 109,098 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,098 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.14M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

82.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$53K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+11.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5458

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 codes2E3D2J2T2F2G

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant 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.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$16K

$698 / participant

Other / not subdivided$16K100.0%

% of EOY assets

3.960%

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

$27,023

$181,896-85.1%

$156,551-82.7%

$273,972-90.1%

Participation rate

56.5%

88.4%-31.9pp

84.0%-27.5pp

83.0%-26.5pp

Annual return

6.31%

30.74%-24.4pp

32.23%-25.9pp

41.46%-35.1pp

Employer contribution / active EE

$6,248-100.0%

$5,501-100.0%

$4,869-100.0%

Participant deferral / active EE

$965

$5,550-82.6%

$4,871-80.2%

$5,287-81.7%

Admin fee / account holder

$1,070

$15,560-93.1%

$13,028-91.8%

$10,133-89.4%

HARBOR COV EMPLOYEE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARBOR COV EMPLOYEE RETIREMENT 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