Retirement plan

COBURN & MEREDITH, INC. 401(K) PROFIT SHARING PLAN

Name: COBURN & MEREDITH, INC. - COBURN & MEREDITH, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: COBURN & MEREDITH, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COBURN & MEREDITH, INC. 401(K) PROFIT SHARING PLAN, COBURN & MEREDITH, INC.

COBURN & MEREDITH, INC.EIN 06-0634693Plan #001PY 2023

ONE OLD MILL LANE - SIMSBURY, CT 06070860-784-2601coburnfinancial.comLinkedIn11-50 employeesfinancial services

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$224K

+37.7% from 2022

Total participants

-11.1% from 2022

Average account balance

$44,707

+10.2% from 2022

Annual return

33.19%

+54.32 pp from 2022

Benchmarks

See 36,180 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,180 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$125K

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

44.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$419

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

+18.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$35948

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 codes2E2F2G2J2R2T3D

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.
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.

Opportunity flags

2 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.

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

$44,707

$185,856-75.9%

$170,028-73.7%

$139,456-67.9%

Participation rate

57.1%

87.8%-30.6pp

87.0%-29.9pp

80.3%-23.2pp

Annual return

33.19%

60.52%-27.3pp

53.39%-20.2pp

373.45%-340.3pp

Employer contribution / active EE

$7,593-100.0%

$6,788-100.0%

$4,753-100.0%

Participant deferral / active EE

$1,044

$11,623-91.0%

$10,409-90.0%

$6,711-84.4%

Admin fee / account holder

$15,387-100.0%

$12,820-100.0%

$11,407-100.0%

COBURN & MEREDITH, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

COBURN & MEREDITH, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion