Retirement plan

CHARIS CONSULTING, LLC 401K PROFIT SHARING PLAN

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

CHARIS CONSULTING, LLCEIN 04-3807256Plan #001PY 2020

170 FROEHLICH FARM BLVD - WOODBURY, NY 11797631-400-8219

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$2.8M

+22.9% from 2019

Total participants

107

-14.4% from 2019

Average account balance

$37,608

+11.4% from 2019

Annual return

14.54%

-7.41 pp from 2019

Benchmarks

See 4,277 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants25-99

Cohort4,277 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.89M

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

69.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$831K

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

+21.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$824

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 codes2E2G2J3D3H2F

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$560

$8 / participant

Other / not subdivided$560100.0%

% of EOY assets

0.020%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RAICH ENDE MALTER & CO., LLP
Auditor EIN: 112336434
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,608

$52,279-28.1%

$89,400-57.9%

$79,858-52.9%

Participation rate

54.9%

57.5%-2.6pp

68.0%-13.1pp

69.6%-14.7pp

Annual return

14.54%

22.16%-7.6pp

245.64%-231.1pp

31.72%-17.2pp

Employer contribution / active EE

$1,572-100.0%

$2,586-100.0%

$2,471-100.0%

Participant deferral / active EE

$5,476

$2,740+99.8%

$3,890+40.8%

$3,740+46.4%

Admin fee / account holder

$3,356-99.8%

$4,882-99.8%

$5,306-99.9%

CHARIS CONSULTING, LLC 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHARIS CONSULTING, LLC 401K 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