Retirement plan

CHARTER BROKERAGE, LLC 401(K) PROFIT SHARING PLAN

Name: CHARTER BROKERAGE, LLC - CHARTER BROKERAGE, LLC 401(K) PROFIT SHARING PLAN (2023) 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 2023

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

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$27.8M

+20.9% from 2022

Total participants

212

+0.5% from 2022

Average account balance

$140,280

+28.2% from 2022

Annual return

16.06%

+31.92 pp from 2022

Benchmarks

See 6,236 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,236 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4 years Service code 13 · EIN 42-0127290	Contract Administrator	$71,471
USCA SECURITIES LLC4 years Service code 49 · EIN 22-3696585	Other Services	$11,005
ALLIANCE BENEFIT GROUP4 years Filed as: ALLIANCE BENEFIT GROUP OF HOUSTON Service code 13 · EIN 76-0500416	Contract Administrator	$6,789
WILSHIRE ASSOCIATES INCORPORATED3 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ADVISORS, LLC Service code 27	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2R2T3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$76K

$440 / participant

Investment mgmt$20.0%
Contract admin$76K100.0%

% of EOY assets

0.274%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: REHMANN ROBSON LLC
Auditor EIN: 383635706
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$140,280

$91,407+53.5%

$135,903+3.2%

$71,457+96.3%

Participation rate

91.9%

75.7%+16.3pp

81.9%+10.0pp

67.9%+24.0pp

Annual return

16.06%

29.90%-13.8pp

68.23%-52.2pp

28.85%-12.8pp

Employer contribution / active EE

$8,256

$3,703+122.9%

$4,856+70.0%

$2,588+219.0%

Participant deferral / active EE

$6,836

$7,092-3.6%

$7,758-11.9%

$4,289+59.4%

Admin fee / account holder

$384

$1,266-69.7%

$10,762-96.4%

$1,587-75.8%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4 years

Service code 13 · EIN 42-0127290

Contract Administrator

$71,471

USCA SECURITIES LLC4 years

Service code 49 · EIN 22-3696585

Other Services

$11,005

ALLIANCE BENEFIT GROUP4 years

Filed as: ALLIANCE BENEFIT GROUP OF HOUSTON

Service code 13 · EIN 76-0500416

Contract Administrator

$6,789

WILSHIRE ASSOCIATES INCORPORATED3 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ADVISORS, LLC

Service code 27

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