Retirement plan

CARNEGIE FABRICS, LLC 401(K) PROFIT SHARING PLAN AND TRUST

Name: CARNEGIE FABRICS, LLC - CARNEGIE FABRICS, LLC 401(K) PROFIT SHARING PLAN AND TRUST (2022) Form 5500
Creator: CARNEGIE FABRICS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CARNEGIE FABRICS, LLC 401(K) PROFIT SHARING PLAN AND TRUST, CARNEGIE FABRICS, LLC

CARNEGIE FABRICS, LLCEIN 11-2699449Plan #001PY 2022

110 NORTH CENTRE AVENUE - ROCKVILLE CENTRE, NY 11570516-678-6770

Prospect flagsHigh feesLow participationCorrective distributions

How to read this page

Total assets (EOY)

$7.5M

-16.4% from 2021

Total participants

120

+4.3% from 2021

Average account balance

$85,486

-16.4% from 2021

Annual return

-16.19%

-26.80 pp from 2021

Benchmarks

See 9,164 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,164 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.45M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

168

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.

142.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.56M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+24.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13473

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

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$43,287
PRIVATE ADVISOR GROUP LLC1 year Service code 27 · EIN 27-3463733	Advisory (Plan)	$25,690
ASSOCIATED PENSION CONSULTANTS3 years Service code 13 · EIN 11-3271022	Contract Administrator	$4,156
LPL FINANCIAL1 year Service code 49 · EIN 95-2834236	Other Services	$0

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$44K

$466 / participant

Contract admin$44K100.0%

% of EOY assets

0.583%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CITRIN COOPERMAN & COMPANY LLP
Auditor EIN: 222428965
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$85,486

$81,870+4.4%

$119,634-28.5%

$68,490+24.8%

Participation rate

66.0%

71.9%-5.9pp

79.3%-13.3pp

67.9%-1.9pp

Annual return

-16.19%

-23.82%+7.6pp

-14.98%-1.2pp

-7.85%-8.3pp

Employer contribution / active EE

$1,379

$2,692-48.8%

$4,232-67.4%

$2,597-46.9%

Participant deferral / active EE

$6,786

$4,148+63.6%

$5,601+21.1%

$4,028+68.5%

Admin fee / account holder

$498

$6,583-92.4%

$10,329-95.2%

$5,403-90.8%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$43,287

PRIVATE ADVISOR GROUP LLC1 year

Service code 27 · EIN 27-3463733

Advisory (Plan)

$25,690

ASSOCIATED PENSION CONSULTANTS3 years

Service code 13 · EIN 11-3271022

Contract Administrator

$4,156

LPL FINANCIAL1 year

Service code 49 · EIN 95-2834236

Other Services

CARNEGIE FABRICS, LLC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CARNEGIE FABRICS, LLC 401(K) PROFIT SHARING 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