Retirement plan

FLEXIBLE BUSINESS SYSTEMS 401(K) PROFIT SHARING PLAN AND TRUST

Name: FLEXIBLE BUSINESS SYSTEMS - FLEXIBLE BUSINESS SYSTEMS 401(K) PROFIT SHARING PLAN AND TRUST (2020) Form 5500
Creator: FLEXIBLE BUSINESS SYSTEMS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FLEXIBLE BUSINESS SYSTEMS 401(K) PROFIT SHARING PLAN AND TRUST, FLEXIBLE BUSINESS SYSTEMS

FLEXIBLE BUSINESS SYSTEMSEIN 11-2772357Plan #001PY 2020

290 MOTOR PARKWAY - HAUPPAUGE, NY 11788631-756-0404

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$7.5M

+14.3% from 2019

Total participants

131

-29.9% from 2019

Average account balance

$59,544

+65.1% from 2019

Annual return

12.25%

-12.66 pp from 2019

Benchmarks

See 5,591 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,591 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.85M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

152

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.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$635K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+18.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$336

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
R.W. ROGE & COMPANY, INC.3 years Service code 15 · EIN 11-2814579	Recordkeeping	$23,224
ADP BROKER-DEALER1 year Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$21,621
ADP BROKER-DEALER3 years Service code 59 · EIN 22-3319984	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$45K

$423 / participant

Other / not subdivided$45K100.0%

% of EOY assets

0.598%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CERINI & ASSOCIATES, LLP
Auditor EIN: 113066459
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$59,544

$99,957-40.4%

$149,730-60.2%

$73,493-19.0%

Participation rate

95.3%

75.7%+19.6pp

82.5%+12.8pp

70.7%+24.6pp

Annual return

12.25%

53.87%-41.6pp

276.70%-264.4pp

28.51%-16.3pp

Employer contribution / active EE

$3,191-100.0%

$4,645-100.0%

$2,270-100.0%

Participant deferral / active EE

$5,109

$6,073-15.9%

$6,843-25.3%

$3,740+36.6%

Admin fee / account holder

$356

$551-35.4%

$9,310-96.2%

$513-30.6%

Provider

Service type

Compensation

R.W. ROGE & COMPANY, INC.3 years

Service code 15 · EIN 11-2814579

Recordkeeping

$23,224

ADP BROKER-DEALER1 year

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$21,621

ADP BROKER-DEALER3 years

Service code 59 · EIN 22-3319984

Shareholder Servicing

FLEXIBLE BUSINESS SYSTEMS 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FLEXIBLE BUSINESS SYSTEMS 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