Retirement plan

CHARTER BROKERAGE, LLC 401(K) PROFIT SHARING PLAN

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

CHARTER BROKERAGE, LLCEIN 05-0562792Plan #004PY 2020

383 MAIN AVENUE, SUITE 400 - NORWALK, CT 06851203-840-7500LinkedIn1-10 employees

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$21.8M

+24.8% from 2019

Total participants

206

+49.3% from 2019

Average account balance

$116,222

-99.3% from 2019

Annual return

16.14%

-5.95 pp from 2019

Benchmarks

See 5,591 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,591 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$31.43M

Not enough data

1 years with asset history on file

Average account balance

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

$153K

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.

206

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.

95.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.82M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+11.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$443

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$55,227
USCA SECURITIES LLC1 year Service code 49 · EIN 22-3696585	Other Services	$5,130
ALLIANCE BENEFIT GROUP1 year Filed as: ALLIANCE BENEFIT GROUP OF HOUSTON Service code 13 · EIN 76-0500416	Contract Administrator	$4,418
WILSHIRE ASSOCIATES INCORPORATED1 year Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$59K

$349 / participant

Contract admin$59K100.0%

% of EOY assets

0.269%

all-in expense ratio

Categories reported

1 / 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: WIPFLI LLP
Auditor EIN: 390758449
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$116,222

$99,957+16.3%

$149,745-22.4%

$73,497+58.1%

Participation rate

89.3%

75.7%+13.6pp

82.5%+6.8pp

70.7%+18.6pp

Annual return

16.14%

53.87%-37.7pp

276.72%-260.6pp

28.51%-12.4pp

Employer contribution / active EE

$12,110

$3,191+279.5%

$4,646+160.7%

$2,270+433.4%

Participant deferral / active EE

$5,402

$6,073-11.0%

$6,843-21.1%

$3,740+44.5%

Admin fee / account holder

$312

$551-43.3%

$9,312-96.6%

$513-39.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$55,227

USCA SECURITIES LLC1 year

Service code 49 · EIN 22-3696585

Other Services

$5,130

ALLIANCE BENEFIT GROUP1 year

Filed as: ALLIANCE BENEFIT GROUP OF HOUSTON

Service code 13 · EIN 76-0500416

Contract Administrator

$4,418

WILSHIRE ASSOCIATES INCORPORATED1 year

Service code 27 · EIN 95-2755361

Advisory (Plan)

CHARTER BROKERAGE, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHARTER BROKERAGE, 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