Retirement plan

CLOVER MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN

Name: CLOVER MANAGEMENT, INC. - CLOVER MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: CLOVER MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLOVER MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN, CLOVER MANAGEMENT, INC.

CLOVER MANAGEMENT, INC.EIN 13-3559931Plan #001PY 2024

348 HARRIS HILL ROAD - WILLIAMSVILLE, NY 14221716-688-4503

Prospect flagsLow participationRecently reached 100 employees

How to read this page

Total assets (EOY)

$4.6M

+30.9% from 2023

Total participants

178

+9.9% from 2023

Average account balance

$43,530

+13.6% from 2023

Annual return

12.88%

-1.22 pp from 2023

Benchmarks

See 1,093 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants100-249

Cohort1,093 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.61M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

106

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.

48.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$789K

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

+12.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$83

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 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY10+ years Service code 15 · EIN 13-3646501 P.O. BOX 600 · BUFFALO, NY 142010600	Recordkeeping	$1,074

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$9K

$63 / participant

Contract admin$9K100.0%

% of EOY assets

0.190%

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: FREED MAXICK P.C.
Auditor EIN: 454051133
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,530

$73,397-40.7%

$178,014-75.5%

$74,546-41.6%

Participation rate

48.6%

66.6%-18.0pp

77.1%-28.5pp

67.2%-18.6pp

Annual return

12.88%

17.49%-4.6pp

294.80%-281.9pp

1366.03%-1353.2pp

Employer contribution / active EE

$1,728

$2,217-22.1%

$3,950-56.3%

$2,624-34.2%

Participant deferral / active EE

$3,905

$4,512-13.5%

$6,276-37.8%

$4,347-10.2%

Admin fee / account holder

$83

$1,809-95.4%

$10,362-99.2%

$1,944-95.7%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY10+ years

Service code 15 · EIN 13-3646501

P.O. BOX 600 · BUFFALO, NY 142010600

Recordkeeping

$1,074

CLOVER MANAGEMENT, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLOVER MANAGEMENT, 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