Retirement plan

NORMANDY REPAIRS INC. EMPLOYEES' PENSION PLAN

Name: NORMANDY REPAIRS, INC. - NORMANDY REPAIRS INC. EMPLOYEES' PENSION PLAN (2022) Form 5500
Creator: NORMANDY REPAIRS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORMANDY REPAIRS INC. EMPLOYEES' PENSION PLAN, NORMANDY REPAIRS, INC.

NORMANDY REPAIRS, INC.EIN 13-1894767Plan #001PY 2022

447 EAST 167TH STREET - BRONX, NY 10456718-665-2550normandyrepairs.comLinkedIn11-50 employeesmechanical or industrial engineering

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$6.4M

-39.6% from 2021

Total participants

-6.7% from 2021

Average account balance

$457,787

-35.2% from 2021

Annual return

-11.39%

-24.74 pp from 2021

Benchmarks

See 23,464 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,464 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.18M

Not enough data

1 years with asset history on file

Average account balance

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

$682K

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.

120.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$300K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$30K

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

+16.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$42417

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 codes2E2F2G2R2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$3.3M

$300434 / participant

Other / not subdivided$3M100.0%

% of EOY assets

51.564%

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

$457,787

$142,392+221.5%

$119,622+282.7%

$134,532+240.3%

Participation rate

100.0%

82.8%+17.2pp

79.3%+20.7pp

81.2%+18.8pp

Annual return

-11.39%

-12.46%+1.1pp

-14.98%+3.6pp

418.27%-429.7pp

Employer contribution / active EE

$27,273

$5,224+422.1%

$4,232+544.4%

$4,741+475.2%

Participant deferral / active EE

$6,467-100.0%

$5,601-100.0%

$6,401-100.0%

Admin fee / account holder

$236,056

$13,593+1636.6%

$10,328+2185.6%

$11,429+1965.5%

NORMANDY REPAIRS INC. EMPLOYEES' PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORMANDY REPAIRS INC. EMPLOYEES' PENSION 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