Retirement plan

CORROSION PROBE, INC. 401 (K) PROFIT SHARING PLAN

Name: CORROSION PROBE, INC. - CORROSION PROBE, INC. 401 (K) PROFIT SHARING PLAN (2022) Form 5500
Creator: CORROSION PROBE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CORROSION PROBE, INC. 401 (K) PROFIT SHARING PLAN, CORROSION PROBE, INC.

CORROSION PROBE, INC.EIN 06-1123092Plan #001PY 2022

12 INDUSTRIAL PARK ROAD, BOX 178 - CENTERBROOK, CT 06409860-767-4402cpiengineering.comLinkedIn11-50 employeesdesign

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5.2M

-18.7% from 2021

Total participants

-2.5% from 2021

Average account balance

$133,252

-16.6% from 2021

Annual return

-16.85%

-31.09 pp from 2021

Benchmarks

See 17,347 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort17,347 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.95M

Not enough data

1 years with asset history on file

Average account balance

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

$136K

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.

141.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$501K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+16.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16744

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 codes2E2G2F2J3D2T

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$537K

$16785 / participant

Other / not subdivided$537K100.0%

% of EOY assets

10.336%

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

$133,252

$64,716+105.9%

$112,258+18.7%

$68,495+94.5%

Participation rate

100.0%

67.2%+32.8pp

75.1%+24.9pp

67.9%+32.1pp

Annual return

-16.85%

-11.40%-5.4pp

27.47%-44.3pp

-7.84%-9.0pp

Employer contribution / active EE

$4,662

$2,746+69.8%

$3,636+28.2%

$2,596+79.6%

Participant deferral / active EE

$7,898

$3,565+121.5%

$4,728+67.0%

$4,028+96.1%

Admin fee / account holder

$13,772

$5,232+163.2%

$6,411+114.8%

$5,403+154.9%

CORROSION PROBE, INC. 401 (K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CORROSION PROBE, INC. 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