Retirement plan

THE ECHO DESIGN GROUP, INC. 401K PLAN

Name: THE ECHO DESIGN GROUP, INC. - THE ECHO DESIGN GROUP, INC. 401K PLAN (2023) Form 5500
Creator: THE ECHO DESIGN GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE ECHO DESIGN GROUP, INC. 401K PLAN, THE ECHO DESIGN GROUP, INC.

THE ECHO DESIGN GROUP, INC.EIN 13-1543397Plan #001PY 2023

75 OXFORD DRIVE - MOONACHIE, NJ 07074201-931-0777

Prospect flagsHigh retiree %High fees

How to read this page

Total assets (EOY)

$28.2M

+15.7% from 2022

Total participants

142

+8.4% from 2022

Average account balance

$207,282

+5.5% from 2022

Annual return

15.68%

+26.55 pp from 2022

Benchmarks

See 2,614 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort2,614 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.16M

Not enough data

1 years with asset history on file

Average account balance

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

$278K

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.

130

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.

92.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$642K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+11.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1014

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290	Contract Administrator	$92,962
RAYMOND JAMES FINANCIAL SERVICES5 years Service code 27 · EIN 59-2937883	Advisory (Plan)	$37,407
ANCHIN, BLOCK & ANCHIN LLP1 year Filed as: ANCHIN BLOCK AND ANCHIN Service code 10 · EIN 13-0436940	Accounting	$34,000
MADISON PENSION SERVICES, INC.1 year Filed as: MADISON PENSION SERVICES Service code 13 · EIN 13-2945975	Contract Administrator	$18,513
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ADVISORS LLC Service code 10 · EIN 95-2755361	Accounting	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$128K

$1438 / participant

Other / not subdivided$128K100.0%

% of EOY assets

0.454%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ANCHIN, BLOCK & ANCHIN LLP
Auditor EIN: 130436940
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$207,282

$59,123+250.6%

$77,183+168.6%

$75,181+175.7%

Participation rate

93.3%

63.9%+29.4pp

69.6%+23.7pp

67.2%+26.1pp

Annual return

15.68%

26.72%-11.0pp

37.89%-22.2pp

160.69%-145.0pp

Employer contribution / active EE

$1,282

$1,996-35.7%

$2,534-49.4%

$2,671-52.0%

Participant deferral / active EE

$5,812

$2,999+93.8%

$3,833+51.6%

$4,126+40.9%

Admin fee / account holder

$941

$4,776-80.3%

$5,475-82.8%

$5,650-83.3%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY8+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$92,962

RAYMOND JAMES FINANCIAL SERVICES5 years

Service code 27 · EIN 59-2937883

Advisory (Plan)

$37,407

ANCHIN, BLOCK & ANCHIN LLP1 year

Filed as: ANCHIN BLOCK AND ANCHIN

Service code 10 · EIN 13-0436940

Accounting

$34,000

MADISON PENSION SERVICES, INC.1 year

Filed as: MADISON PENSION SERVICES

Service code 13 · EIN 13-2945975

Contract Administrator

$18,513

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ADVISORS LLC

Service code 10 · EIN 95-2755361

Accounting

THE ECHO DESIGN GROUP, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE ECHO DESIGN GROUP, INC. 401K 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