Retirement plan

ED'S GARAGE, INC. EMPLOYEE SAVINGS RETIREMENT PLAN AND TRUST

Name: ED S GARAGE INC. - ED'S GARAGE, INC. EMPLOYEE SAVINGS RETIREMENT PLAN AND TRUST (2024) Form 5500
Creator: ED S GARAGE INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ED'S GARAGE, INC. EMPLOYEE SAVINGS RETIREMENT PLAN AND TRUST, ED S GARAGE INC.

ED S GARAGE INC.EIN 06-0741580Plan #002PY 2024

20 WESTMINSTER ROAD, P.O. BOX 118 - CANTERBURY, CT 06331860-546-9492edsgarageinc.comLinkedIn11-50 employees

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$2.5M

+14.0% from 2023

Total participants

0.0% from 2023

Average account balance

$283,331

+14.0% from 2023

Annual return

10.59%

+5.16 pp from 2023

Benchmarks

See 22,321 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort22,321 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.74M

Not enough data

1 years with asset history on file

Average account balance

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

$342K

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.

114.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$81K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+8.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14082

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 codes2E2F2J2T3D

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).
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$16K

$1758 / participant

Other / not subdivided$16K100.0%

% of EOY assets

0.621%

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

$283,331

$111,785+153.5%

$93,669+202.5%

$145,877+94.2%

Participation rate

88.9%

74.2%+14.7pp

68.7%+20.2pp

80.3%+8.6pp

Annual return

10.59%

203.79%-193.2pp

133.59%-123.0pp

551.28%-540.7pp

Employer contribution / active EE

$2,057

$3,096-33.5%

$2,424-15.1%

$4,663-55.9%

Participant deferral / active EE

$7,103

$4,919+44.4%

$4,416+60.9%

$6,691+6.2%

Admin fee / account holder

$1,758

$10,256-82.9%

$8,291-78.8%

$13,402-86.9%

ED'S GARAGE, INC. EMPLOYEE SAVINGS RETIREMENT PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ED'S GARAGE, INC. EMPLOYEE SAVINGS RETIREMENT PLAN AND TRUST

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